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.

READ MORE: 16-Year-Old Girl Dead, Woman Wounded in Friday-Evening Shooting in San Francisco

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.

READ MORE: Belmont Police Search for Missing Woman and Her 3-Year-Old Son

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.

MORE NEWS: Grass Fire That Burned 15 Acres on Altamont Pass Slows Traffic for Hours

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)