Report: Louis Vuitton wants America's Cup refund


The French retailer's contract was based on at least eight teams competing in the Louis Vuitton Cup, the two month round robin competition that determines which team will sail against Oracle team USA for the America's Cup. There are only three teams competing in the challenger series.

The SF Business Times report says Louis Vuitton is entitled to a $1 million rebate for each team less than six that participates.

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