Oracle yachtsman Jimmy Spithill said he wants to see Australia compete in the next America's Cup with the driving motive to win back the Auld Mug.

The 38-year-old, who captained the Australian team in 2001, said although he would not commit himself just yet he 'would love to see an Australian team' compete.

"If you look around the teams over the past few campaigns, you see Aussies littered throughout all of them," Spithill said at a yachting charity event in Canberra, reported by The Age.

"We're so associated with the water in Australia and I think the fact that the next one in is in New Zealand it wouldn't be surprising at all [to see an Australian team].

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The Australian won the Cup twice with Oracle Team USA but lost this year in Bermuda to Emirates Team New Zealand.

With teams awaiting the official entries which open on January 1 followed by the new 75-foot monohull class rule on March 31, Spithill said there's still plenty to contemplate.

Jimmy Spithill previously said he would be keen to re-contest for the Cup after this years heavy loss. Photo / Getty
Jimmy Spithill previously said he would be keen to re-contest for the Cup after this years heavy loss. Photo / Getty

"Everyone in the sailing world is waiting on the final class rule, which is what the boat design is and that will come out in March next year, so before you commit to any sort of project or program you really need to know where the goal posts are," he said.

Spithill said he believes millionaire and reigning Sydney to Hobart winner, Anthony Bell, could be the key figure in backing the Australian Challenge.

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"He's been pretty successful in a lot of his campaigns, certainly in the offshore world, they broke the Sydney to Hobart race record and I know he's raised a lot of money for charity," Spithill said.

"I know Anthony a little bit and he's a really good bloke but I don't know any of his plans, I'm kind of waiting to see where all the cards fall, there are a few different projects outside of the America's Cup that I'm pretty interested in."

He previously said he would be eager to stay in the America's Cup in order to redeem himself from this years heavy loss to Team New Zealand.

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Spithill is all set to race in this year's Sydeny to Hobart abroad Comanche upon the boat which won the title two years ago and finished second behind Wild Oats in 2014.