There's another boat on the water going after the America's Cup. The Luna Rossa, Italy's challenger for sailing's most prestigious prize, was christened Wednesday in Cagliari on the Isle of Sardinia. The Circolo della Vela Sicilia yacht club is the third to launch, joining Emirates Team New Zealand and the New York Yacht Club's American Magic.

After Monsignor Arrigo Miglio, the archbishop of Cagliari, blessed the boat and sprinkled it with holy water, fashion scion Miuccia Prada smashed a bottle of Ferrari Maximum Blanc de Blancs over the ship's bow, setting off a cacophony of horns and cheering. "Always launching a new boat, it is exciting," Pirelli CEO Marco Tronchetti Provera said. "It's the beginning of a new adventure in race, a new era in sailing."