SAN FRANCISCO (CBS/AP) – Australia is back in the America’s Cup for the first time since 2000 after a challenge by winemaker and sailor Bob Oatley was accepted by software billionaire Larry Ellison.

The challenge by the Hamilton Island Yacht Club, located on the edge of the Great Barrier Reef, was announced Monday. It was received by San Francisco’s Golden Gate Yacht Club on Wednesday, right after Ellison’s Oracle Team USA retained the America’s Cup by completing a remarkable comeback against Emirates Team New Zealand.

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The Hamilton Island Yacht Club will be the challenger of record, helping shape the rules for the 35th America’s Cup along with the GGYC and other challengers.

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Australia last challenged for the America’s Cup in 2000.

In 1983, Australia II beat Dennis Conner’s Liberty to end the New York Yacht Club’s 132-year winning streak.

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