Adds details on Team Australia appointments, quotes in paragraphs 3, 6, 8-13

MELBOURNE, May 13 (Reuters) - Australia launched its first challenge for the America's Cup in a quarter of a century, entering a team for the 38th edition of the historic sailing event in Naples, Italy next year.

The Royal Prince Edward Yacht Club said on Wednesday it had issued a Notice of Challenge to the defending New Zealand Yacht Squadron, with the bid backed by local businessman John Winning Jr, who skippered supermaxi Andoo Comanche to line honours in the 2022 Sydney to Hobart blue-water classic.

Tom Slingsby, Olympic gold medallist and a two-time world sailor of the year, will join Team Australia as head of sailing, while three-time America's Cup winner Glenn Ashby was named as head of performance and design, the yacht club later added.

"The challenge represents not only our Club, but Australia on the world stage, continuing our proud legacy in sailing's most prestigious competition," Royal Prince Edward Yacht Club's Commodore Sven Runow said in a statement to members.

Australia II, skippered by John Bertrand, famously ended the New York Yacht Club's 132-year-old stranglehold over the America's Cup trophy in 1983.

Grant Simmer, a member of that winning campaign, was named as chief executive of Team Australia by the club.

Australia has not participated since the 2000 edition of the coveted cup won by New Zealand, when the Young Australia syndicate's bid led by 20-year-old Jimmy Spithill finished well down the standings in the qualifying Louis Vuitton Cup.

"There's a huge sense of excitement around what we're building together, and I'm incredibly proud to be part of the beginning of this new chapter for Australian sailing," Slingsby said, adding that it had been a dream throughout his career.

Ashby said the team would use "modern engineering and design tools, simulation and performance optimization" to make sure it was ready to compete in Naples early next year.

"For more than half my sailing career I have had a dream to see an Australian team return to the pinnacle event of our sport of sailing," Ashby, who helped lead New Zealand to victory in previous America's Cup events, added in a statement.

The rules for the event will require at least one female sailor to be included in each crew for the first time, with teams competing for the "Auld Mug" in AC75 foiling monohulls.

Team Australia sailor Tash Bryant said it felt like "an exciting new era" for the America's Cup, which was first raced off the south coast of England in 1851.

"The evolution of the boats and the competition is opening the door to broader opportunities and visibility for women in elite sailing, while also creating clearer pathways for younger generations coming through the sport," she added.