Brought in at the last minute by Carl McKenzie to manage New Zealand’s 1992 America’s Cup challenge, Blake led the Kiwi team to the challenger finals with NZL-20. However, Italy emerged from the controversial series with the Louis Vuitton Cup, and went on to face America³ in the America’s Cup match.
Blake was back for the 1995 America’s Cup challenge, this time as the syndicate head of Team New Zealand. With NZL 32, “Black Magic”, they made a clean sweep, beating Dennis Conner 5-0. Blake’s “lucky red socks” (a present from his wife) became something of a trademark. It was commonplace to see New Zealanders sport red socks or fly them from car aerials during the Cup races and a highly successful “fundraising edition” of official red socks emblazoned with the sail numbers of the two NZL yachts was produced to help fund the syndicate. Subsequently, following his murder, red socks became a badge of mourning to his many admirers.
After the 2000 defence Sir Peter stood down from the team
Blake was inducted into the America’s Cup Hall of Fame in 1996.