Editing Dennis Conner (section)

===Funding and setbacks===
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Perhaps due to the bad media attention surrounding the 1988 catamaran defense, Conner had insufficient funding to mount a multiple-boat defense in 1992, which also heralded the debut of the [[International America's Cup Class|IACC yacht]]. His USA-11 proved no match to [[Bill Koch (businessman)|Bill Koch]]'s [[America3]] campaign.  USA-11 was built as a test-bed for design ideas that were to be incorporated into the "racing" boat, nicknamed ''TDC-2''.  However, ''TDC-2'' was never built.  Its ideas were incorporated into his single-boat campaign for 1995, and the yacht Stars & Stripes USA-34.  After almost sinking during The [[Citizen Cup]] defender trials, USA-34 went on to a come-from-behind win over ''[[1995 Citizen Cup#America3|Mighty Mary]]'', earning the right to defend The Cup against Team New Zealand's ''Black Magic'', [[NZL 32|NZL-32]]. Believing Stars & Stripes was no match against the Black Magic, Dennis Conner swapped boats for the Cup matches, pitting ''[[Young America (1994 yacht)|Young America]]'' against New Zealand's ''Black Magic'' NZL–32. But the result was a humiliating defeat for Dennis Conner, losing to Team New Zealand 5-0.

Conner again found difficulty securing funding for the [[2000 America's Cup]] in Auckland, New Zealand. As in 1992 and 1995, he mounted a single-boat campaign centered upon Stars & Stripes USA-55.  Conner was eliminated in the quarter final [[repechage]] by [[Craig McCaw]]'s OneWorld Challenge.

Conner was a rare non-billionaire fielding a team to compete in the [[2003 America's Cup]], held in [[New Zealand]], receiving funding of up to US$40 million from his sponsors. His syndicate, ''Stars & Stripes'', suffered a severe setback before they departed California, as one of the two Stars & Stripes boats (''USA-77'') sank when its rudder post failed during training. Despite raising the boat from 55 feet of water and eventually repairing it, they were unable to recover the valuable testing time lost and they were defeated in the quarter-finals of the [[Louis Vuitton Cup]].

2003 marked Conner's last participation in the America's Cup.