Two of the world's richest men have joined forces to organise the rules for the next America's Cup to be sailed somewhere in Europe.
Swiss pharmaceuticals billionaire and Alinghi head Ernesto Bertarelli will team up with software mogul Larry Ellison whose team Oracle, skippered by New Zealander ChrisDickson, were the beaten finalists in the challenger series.
The two men are both understood to want to modernise and professionalise the cup, scrap nationality provisions and perhaps run more regular events for America's Cup Class yachts.
They also want to reduce some of the powers of the defender, by having the event run by an independent race committee. The event, which ran for five months this time, will probably be shorter and possibly have the same rather than separate sponsors for the challenger series and match.
Details of their plans are to be announced by Alinghi tomorrow.
Alinghi's host yacht club, the Societe Nautique de Geneve, announced that the San Francisco club which backed Oracle, the Golden Gate Yacht Club, would be their official challenger of record just moments after Alinghi won the cup yesterday.
Alinghi embarrassed defenders Team New Zealand in the match, winning 5-0.
Societe club commodore Pierre-Yves Firmenich said he was proud to be taking the America's Cup back to Europe for the first time in 152 years.
Oracle general manager Bill Erkelens said negotiations between the two yacht clubs had gone smoothly.
"Ernesto Bertarelli and Larry Ellison share the same vision and values for modernising the cup," he said.
Alinghi have yet to declare where the next event will be sailed, but the Italian-born Bertarelli has previously said his heart lies with a Mediterranean venue.
