On the day we lost the America's Cup And the glory slipped away I went for a walk in the city To see what the man in the street might say I found a likely lookin' chap Who agreed to talk with me He wore a beret and coal-black shades And Billy go-go Tee There's news from Newport sir says I I give it you to straight Australia won the America's Cup We had too little too late The little guy turns his lamps on me All blood-shot red and blue You say we lost the America's cup Did we lose the saucer too He said, I did not know we lost the cup I tell you one thing more I didn't know we had the cup What the damn thing's for For sailing boats - you're putting me on And them Captain Andy hats And they called that rub-a-dub-dub a race Hell I could walk as fast that You say Australia won the cup You tell me what it cost One thing you ain't told me Jack Is who it is that lost Yeah, who are the souls who lost the cup
And had to let go The New York Yacht Club did you say Please tell me it ain't so So the New York Yacht Club blew the tin And the flag at half-mast waves Jack, please excuse my lack of tears But some of them cats owned slaves They got houses big as Rhode Island They got blood as blue as the sky And I hope they wore their Sunday best To kiss the cup goodbye We had the cup how long you say A hundred and thirty-two years And now Australia won the cup And filled it with Foster beers And now the yacht club's dark and cold And now it's draped in black I hope it takes ‘em it twice as long To get the damn thing back Yeah I feel for all them yacht club studs Says the little guy to me The sight of that empty trophy case Will be a heavy sight to see It must be hell to lose the cup When you had it for so long.... He took his saxophone out of its case And he played a sad little song..... It went