US challenger Oracle reacted positively this week to the announcement of an agreement on new rules for the next America's Cup that may help resolve its legal battle with Swiss champions Alinghi.
On the meeting in Geneva last week Alinghi representatives held talks with 10 of the 12 challengers for the 33rd edition of the yachting's most prestigious event.
Alinghi announced afterwards that agreement had been reached that finely starts moving the America’s Cup event from the courtroom back to the water, where it belongs.
The legal battle started after the last America’s Cup when the row erupted between the Swiss champions and Oracle after Alinghi announced that the next edition, then scheduled for 2009 in Valencia, would be held under different rules. Oracle argued that the new rules are tailored on the way that would favour the defending champion Alinghi. The dispute lead the two teams to the court in New York.
As things stand right now, Oracle backed Alinghi's proposal for a 2010 Cup using a new and faster but cheaper class of yacht than the AC90s which competed in the 2007 competition. However the discussions are continuing for a possible compromise solution to a dispute that has paralyzed one of the oldest competition in sport.