Pact's new 1995 cup yacht is expected here in December.
"But the boat is four feet shorter than the Cup yachts."
Fay wanted to race within 10 months, and in a boat twice the size of traditional cup yachts.
The first formal races among cup yachts are scheduled to begin Jan. 12.
In the afternoon, he steps out for a few hours at the helm of an America's Cup yacht.
Generally, an America's Cup yacht is 75 to 78 feet long and weighs 45,000 to 48,000 pounds.
Koch has built four cup yachts and hired 150 people to work for his syndicate.
Seven masts have broken on Cup yachts during training sessions for the current contest.
A limit of two new 75-foot cup yachts per syndicate is part of the 1995 rules.
The winged mast on the 1983 America's Cup yacht was one such example.