In February 1997, Prada CEO and avid sailor Patrizio Bertelli met with Argentinian yacht designer German Frers to discuss the construction of a cruising yacht. Frers asked suddenly "Why don’t we consider the America’s Cup?". Within 15 days, the core group behind Luna Rossa's first America's Cup campaign was established; the team challenged for the 30th America's Cup on behalf of the Yacht Club Punta Ala and under the name Prada Challenge.