Yacht Club Costa Smeralda was established by the Aga Khan

Aga Khan

Aga Khan is the hereditary title of the Imam of the largest branch of the Ismā'īlī followers of the Shī‘a faith. They affirm the Imamat of the descendants of Ismail ibn Jafar, eldest son of Imam Ja'far al-Sadiq, while the larger Twelver branch of Shi`ism follows Ismail's younger brother Musa...

 in 1967. It is situated at Porto Cervo

Porto Cervo

Porto Cervo is an Italian seaside resort in northern Sardinia. It is a frazione of the comune of Arzachena, in the province of Olbia-Tempio. The village is the main centre of the Costa Smeralda, on the gulf of the same name. It was created by Prince Karim Aga Khan...

 in Costa Smeralda

Costa Smeralda

The Costa Smeralda is a coastal area and tourist destination in northern Sardinia, 55 km long and covering more than 30 km². With white sand beaches, a golf club, private jet and helicopter service, and hotels costing up to US$2,000 - 3,000 per night in the peak season, the area has...

, northern Sardinia

Sardinia

Sardinia is the second-largest island in the Mediterranean Sea . It is an autonomous region of Italy, and the nearest land masses are the French island of Corsica, the Italian Peninsula, Sicily, Tunisia and the Spanish Balearic Islands.The name Sardinia is from the pre-Roman noun *sard[],...

 and provides services for recreational sailors.

The club challenged for the 1983 America's Cup

1983 America's Cup

The 1983 America's Cup was the occasion of the first winning challenge to the New York Yacht Club who had successfully defended the cup over a period of 132 years...

 with Azzurra

Azzurra

Azzurra is a yacht racing team that competes in America's Cup style sailing out of the yacht club Yacht Club Costa Smeralda.-Early history:Managed by Luca Cordero di Montezemolo and funded by Aga Khan IV and Gianni Agnelli, Azzurra began to compete in 1982...

in Newport, Rhode Island

Newport, Rhode Island

Newport is a city on Aquidneck Island in Newport County, Rhode Island, United States, about south of Providence. Known as a New England summer resort and for the famous Newport Mansions, it is the home of Salve Regina University and Naval Station Newport which houses the United States Naval War...

, coming third. In 1984 it hosted the World 12-Metre Class

12-metre class

The 12 Metre Class is a rating class for racing boats designed to the International rule. It enables fair competition between boats that rate in the class whilst retaining the freedom to experiment with the details of their designs. The first 12 Metres were built in 1907. The 12 Metre Class was...

 championship, and in 1987 challenged for the America's Cup

1987 America's Cup

The 1987 America's Cup was the twenty-seventh challenge for the America's Cup and the first time for 132 years that it had not been defended by the New York Yacht Club....

 with Azzurra '87 off Fremantle, Western Australia

Fremantle, Western Australia

Fremantle is a city in Western Australia, located at the mouth of the Swan River. Fremantle Harbour serves as the port of Perth, the state capital. Fremantle was the first area settled by the Swan River colonists in 1829...

. The club was chosen by the Royal Perth Yacht Club

Royal Perth Yacht Club

The Royal Perth Yacht Club is a yacht club in Perth, Western Australia. -Early history:The "Perth Yacht and Boat Club" in 1880 was able to build a jetty at the foot of William Street in Perth Water. Perth Yacht Club received the Royal Charter in 1890. The club shifted to Crawley in 1953 when the...

as the Challenger of Record for the 1987 edition.