After years of buildup, the America's Cup sailing competition is officially under way on the San Francisco Bay. July Fourth was the opening ceremony, kicking off more than two months of racing. On Friday, fans will get to see a time trial featuring the very big, very expensive AC-72 boats -- catamarans that can hit speeds of 45 miles-per-hour on the water. Three boats will compete for the chance to unseat defending champion Oracle Team USA, owned by billionaire Larry Ellison.
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