The New York Yacht Club lost The America’s Cup, to the Royal Perth Yacht Club and Perth business-man and syndicate leader Alan Bond on September the 23rd 1983, when wing keeled Australia II, crossed the finish line defeating American defender Liberty and winning the best of 7 races 4/3. Euphoria swept early morning Australia and the over 10% unemployment rate was momentarily forgotten when Prime Minister Bob Hawke gave the nation the day off to celebrate. After 132 years The Cup for the first time was leaving America and the victory was heralded as Australia’s greatest sporting triumph. Then on February the 4th, 1987, off the coast of Fremantle in Gage Roads, American challenger Stars and Stripes 87, defeated Australian defender Kookaburra III, 4 zip out of the best of 7 races. Australia lost The Cup.