Time-Lapse Video: Artemis Launches Its New America's Cup Boat

The America's Cup has had its share of problems, including a lag in fundraising and a disappointingly small number of challengers. The event has also had to suffer through the embarrassment of a number of Louis Vuitton Cup races, which will determine who will take on reigning champ Oracle Team USA in the America's Cup Finals, not really being races at all, with only a single boat completing the course.

All but one of those single-boat races have occurred due to the tragic capsizing on May 9 of Sweden's Artemis Racing, during which the team's strategist, Andrew "Bart" Simpson, an Olympic medalist, was killed. The Artemis boat was wrecked during the crash, and it's been working on a replacement boat ever since.

Yesterday, Artemis launched its new boat. While the team still has no timetable to join the competition, it's expected to at least compete in the semifinals, which run August 6-14.

The Bay Area News Group has put up a time-lapse video of Artemis attaching its wing to the boat.

And here are Artemis team members talking about the launch of the new boat. "We're definitely an underdog, that 's for sure," says helmsman Nathan Outteridge. "The fact that we still haven't sailed the boat and the elimination series starts on the 6th of August, we've got a long way to go."

America's Cup racing continues today, live in the water and on the web, at 12 p.m.