Dennis Conner, the United States' most renowned sailor of the modern era, is looking to Bermuda as the base for his next America's Cup campaign, The Royal Gazette can reveal.

Yesterday Francis Carter, local organiser for the syndicate -- likely to be termed Bermuda Challenge -- would neither confirm nor deny Conner's affiliation with the group seeking to challenge for the trophy in New Zealand in 2000, but sources among sailing circles did.

"I can't tell you as I've entered into a confidentiality agreement with the yacht person, the Department of Tourism and Department of Finance,'' said Carter, anxious not to jeopardise the effort. "The yacht person would like to enter first and foremost with Bermuda, but if not he has other alternative plans with another corporate entity.'' Conner, born and raised in the sailing mecca of San Diego, California, is lauded as arguably America's best yachtsman, but is similarly often castigated by his peers for an arrogant, boastful style.

In losing the 1995 finals to Russell Coutts, helmsman of Team New Zealand's Blackmagic , Conner, representing the San Diego Yacht Club and with Paul Cayard skippering the American entry Young America -- substituting for Conner's own, slower boat Stars and Stripes -- became the first two-time loser of the America's Cup.

The best-of-nine series became known as `The Slaughter on the Water' with the Kiwis' craft cruising virtually unchallenged to a 5-0 triumph off the coast of San Diego.

However, losing is not his trademark, as Conner has also won the Cup, or Auld Mug as it is sometimes called, four times.

After losing the title to Australia in 1983, Conner returned to Freemantle four years later and promptly took the Cup back, defending the title twice, once against the Mercury Bay Boat Club of New Zealand in 1988 and again in 1992 against the Compagnia della Vela of Italy in 1992.

"This is an opportunity for Bermuda to compete on a very competitive basis,'' said Carter. "The boats are not only going to be designed here, but built and sailed. People will be trained here, there will be practice races, the opportunities to promote Bermuda are endless.

"People are ready to fly out of here next week to get this thing moving along. This isn't a flash in the pan, but has been planned for several months and is ready to go and really take off.

"We're ready to release ourselves to the world.'' Carter, an umpire during last year's Gold Cup, hatched the idea after engaging in talks with a fellow umpire and after further discussions with local boat-maker Martin Purser over ways to develop the marina at King's Point that would attract super yachts to the Island.

It was thought that a way to do so -- outside of a state of the art facility -- would be to form a syndicate that could compete at the America's Cup, while attracting attention to the Island as a viable destination.

The America's Cup is one of the most prestigious and visible sporting events in the world. Few trophies in sports have been so fiercely contested or inspired such commitment and few can claim to stir more nationalistic pride.

It is the oldest continuous trophy in sports, being first sailed for in 1851.

Originally known as the 100 Guinea Challenge Cup, the 25-inch high solid silver urn was first won by the yacht America representing the New York Yacht Club, on a visit to the Solent in 1851 on the occasion of the first Great Universal Exhibition.

After the Cup went across the Atlantic the owners of America wrote a deed of gift renaming it America's Cup, and since then a tournament has been held at various intervals in various formats during the intervening 146 years, nearly always as a match between the holder of the trophy (the defender) and a suitably qualified yacht from another country (the challenger).

Recently the New York Yacht Club picked the Massachusetts-based PACT 2000 syndicate to represent it as a challenger at the regatta in New Zealand.