Ireland's 2010 Commodore's Cup winning captain showed his relief at the news that Hong Kong have been tipped as favourites for next July's event, The Irish Times reports.

The announcement was made this week at the Royal Ocean Racing Club (RORC) in London, and should lift a burden off an Irish squad which has long suffered under the weight of being pre-event favourites.

Ireland's concerns instead have turned to whether a team can even be assembled for next summer's event in light of the difficult economic environment - and despite the RORC opening the rating bands to allow for more flexible combinations of boat sizes.

As previously reported on Afloat.ie, the Irish Cruiser Racing Association (ICRA) is seeking expressions of interest to form an Irish team and remains hopeful of mounting a serious defence of the title won by last year's Anthony O’Leary-captained squad.

The next Commodore's Cup - which also has a new title sponsor in Brewin Dolphin - takes place from 21 to 28 July 2012 in Cowes.