The K-Challenge was born before the 31st edition of the America's Cup had even started, when two businessmen, Ortwin Kandler and Stephan Kandler, started the project with sailor Dawn Riley.

K-Challenge is a multicultural and multitalented team determined to capture the America's Cup and take it to France. Early in the spring of 2005 is received recognition from the French Sailing Federation as the French team in the 32nd America's Cup.

The team has secured the winning boats and designs from the 2000 America's Cup from Team New Zealand. K-Challenge has bought NZL-57, and leased the Cup-winning NZL-60, to jump start its campaign. In addition, the team has acquired all of the intellectual property and design technology from the 2000-generation Team New Zealand campaign, giving it insight to an America's Cup winning design.

Skipper Thierry Peponnet has the experience of two previous America's Cup campaigns under his belt, and won a Gold Medal in the 1988 and a Bronze Medal in 1984 Olympic Games. He has over 10 years of international level match racing to his credit, along with numerous big boat championships.

K-Challenge can also rely on the vast experience of General Manager Dawn Riley, who won the America's Cup in 1992 as part of the America³ team, and was heavily involved with American teams in 1995 and 2000. Riley has also competed in two Whitbread Round the World Races.

K-Challenge finished in fifth place at Act One in Marseille, sixth in the second Act and fifth again in the third Louis Vuitton Act. The team claimed sixth place on the Season Champion table.