He was the first and so far only non-angloamerican skipper to win the Louis Vuitton Cup in Auckland in 2000 with Luna Rossa (ITA45).

In the XXXI America’s Cup in 2003, still as Luna Rossa’s skipper and helmsman, he reached the semi-finals but lost to One World.

In the XXXII America’s Cup in 2007, he served as team director and skipper for Luna Rossa and reached, again, the Louis Vuitton final after beating BMW Oracle Racing 5–1.

For his distinction in sports, Francesco has been awarded four gold medals from the Italian National Olympic Committee.

He was also named as an honorary Officer of the New Zealand Order of Merit, for services to yachting and New Zealand–Italy relations, in the 2000 Queen's Birthday Honours.