Alan Bond's family says the global entrepreneur who became an Australian hero by bankrolling an historic America's Cup yacht race victory before going to prison over the nation's biggest corporate fraud has died. He was 77.
Bond's family said Bond died on Friday in a hospital in the western city of Perth of complications following heart surgery.
Perhaps Bond's proudest moment came in 1983 when he headed the Australia II syndicate that won the America's Cup from the New York Yacht Club that had held it since 1851. Australia II's then-revolutionary winged keel ended the longest winning streak in the history of sport.