Rescue operation underway after American Magic capsize on day three of the Prada Cup All crew are safe, but the boat - travelling at over 40 knots before the crash - looks to be significantly damaged 17 January 2021 • 12:56pm American Magic is righted after it capsizes in race two Credit: Getty Images Most observers were agreed that it would be Britain’s America’s Cup challenge sinking without trace in Auckland last week. The humiliating nature of Ineos Team UK’s defeat in a warm-up regatta just before Christmas - six defeats out of six in a boat which looked like a seriously expensive dud - set alarm bells ringing in the sailing world.