Yachts: Kiwis claim millions
06/03/2008 19:42  - (SA)  

Alinghi prepare for duel America's Cup ruling expected Alinghi appeal Cup ruling

Madrid - The New Zealand syndicate for the next America's Cup race said on Thursday they are seeking "tens of millions of euros" in compensation from Swiss champions Alinghi over the event's postponement.

Team New Zealand said they have filed a case with a New York court claiming damages for breach of contract arising from an agreement covering the syndicate's entry for the 33rd edition of the race.

The agreement included an "understanding entered into by (Alinghi boss) Ernesto Bertarelli that the America's Cup would go ahead in 2009," they said in a statement.

"It's now probable we might not see a normal regatta until 2011," Team New Zealand's managing director Grant Dalton said in the statement.

The statement did not indicate the amount of damages it was seeking. But Dalton told AFP in a telephone interview from New York that it would be "tens of millions of euros."

"We have a duty to protect the investment in the team over many years by a wide range of loyal supporters," Dalton said in the statement.

"We also have an obligation to honour the trust shown by the hundreds of thousands of New Zealanders who have supported the team through the years."

Alinghi retained the America's Cup by beating Team New Zealand in July in a hugely successful staging of the 32nd edition of the race in Valencia.

But the next edition of yachting's showpiece event was indefinitely postponed because of a legal dispute between Alinghi and US syndicate Oracle over the rules.

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