Team NZ seek Alinghi compensation

LONDON, England -- Team New Zealand have demanded compensation from Alinghi following the America's Cup holders' decision to postpone the yachting showpiece.

The team, beaten 5-2 in the final by the Swiss syndicate this year, had a side agreement with Alinghi boss Ernesto Bertarelli that the regatta would be held in 2009.

Organizers announced on November 22 that the event would be postponed due to uncertainty caused by American syndicate Oracle Racing's dispute with Alinghi over competition rules.

Oracle won their case in the New York Supreme Court this week, raising hopes that the next regatta could still go ahead in 2009.

Team NZ managing director Grant Dalton said all challengers, including Oracle, wanted an event in 2009, and that this could achieved easily as a result of the court verdict.

He said the ruling allowed for a mutually-agreed document as the basis of the next America's Cup and such a document had already been formulated between Oracle and the other challengers.

"None of the nine points in this document can be construed as onerous for Alinghi," Dalton said.

Dalton said that, before the court case, Bertarelli was adamant the regatta would go ahead as scheduled and entered into a binding agreement on July 25.

"Emirates Team New Zealand entered into the agreement in good faith," he said.

"The contract provided the assurance we needed to plan for 2009. For Ernesto Bertarelli, the agreement with Emirates Team New Zealand ensured another entry for 2009."

Swiss millionaire Bertarelli has yet to confirm whether he would lodge an appeal, which would delay racing for another year.

One possible scenario is that Alinghi would face Oracle in a one-on-one series next year.

Team NZ would reportedly lose $25 million if the next regatta was put back to 2010 and $28 million if it is held in 2011. E-mail to a friend

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