Yachting's worst kept secret is out with BMW Oracle signing three times America's Cup winner Russell Coutts to lead their next challenge.
Billionaire owner Larry Ellison says he has signed Coutts as both skipper and chief executive.
The American syndicate's challenge has not yet been accepted by defenderAlinghi while a legal wrangle hangs in the air. Ellison is suing Alinghi for what he says are the unfair rules they have set for the next America's Cup.
Coutts takes over from fellow New Zealander Chris Dickson who left Oracle after their shock 5-1 defeat at the hands of Luna Rossa in the semifinals of the Louis Vuitton Cup challenger series.
Coutts skippered New Zealand's successful challenge for sailing's most prestigious prize in 1995 and defended it in 2000 before signing up to lead Alinghi to victory in 2003.
"I am very delighted to be here. It is a great opportunity for me, a great leadership role offered to me by BMW Oracle," Coutts told a news conference in Valencia.
It's doubtful whether Coutts will ever escape the tag of "traitor" among New Zealand fans, for jumping ship to Alinghi after he successfully defended the Cup with Team New Zealand in 2000.
"I'm really looking forward to getting back on the water," said the New Zealander, adding he and Oracle supremo Larry Ellison "share the same vision."
Although the combination of Skipper and CEO didn't work out well for Ellison and Oracle in the case of Chris Dickson, the US billionaire has plumped for the same strategy in giving both roles to Coutts, who said he has been handed "pretty much a clean sheet of paper" although "there's a tremendous amount of work to do to assemble a team", according to AFP reports.
Coutts stressed he would be hiring a tailor-made on-shore structure to enable his primary focus to be with the crew.
But "I really want to get out on the water again," he repeated.
"Alinghi won the last two Cups by sailing better and designing better and that's what we'll be trying to do", AFP reported today.
Ellison handed the Kiwi a number 12 shirt with Coutts on the back and grinned: "Russell, welcome to BMW Oracle Racing!"
Coutts left Alinghi following the 2003 triumph, the first ever by a debutant team, after a disagreement over strategy with team supremo Ernesto Bertarelli.
But his contract with the Swiss prevented him from joining another syndicate for the 2007 edition, which saw Alinghi defeat Team New Zealand 5-2.
