"It's gutting,'' Hansen said after this morning's race in San Francisco. "You can only imagine how they're feeling and I think it's really important that we put it in perspective.
"We are a little nation, you look at the budgets that both teams had and just with extra time, the USA Oracle team has worked wonders with their boat. And the [New Zealand] guys, we've just seen them sail a great race but you can't help it if you're driving a Ferrari versus a great Ford Mustang.
"The Ferrari's going to win and that's what we've seen and I don't think we can do anything but be proud of our guys.
"For 18 days, we've been in a contest and we've gotten within one race of winning it and with a wee bit of luck, they probably would have. But the more time Oracle had, obviously the faster their boat's gone and you can only put that down to making a better boat because both crews were brilliant today and our guys gave everything.
"They just didn't have a fast enough boat and when you don't have a fast enough boat, you're not going to win.''