KEY POINTS:
After months stuck in a holding pattern, the crew of Team New Zealand are set to regroup with the Kiwi syndicate confirming their entry into next year's Mediterranean TP52 regatta circuit.
The latest announcement follows last month's unveiling of the new Louis Vuitton Pacific Series regatta to be
staged in Auckland.
With the future of the America's Cup becoming increasingly hazy over the past 12 months as a result of the ongoing legal battles between Alinghi and Oracle, Team New Zealand were forced to lay off a number of staff.
But with two big events to focus on over the next year, it means some of those sailors can return.
Team NZ skipper Dean Barker said his crew are very excited about the challenges ahead.
"I think for a bunch of the guys this year's been a tough year because they've sort of felt like America's Cup could happen at any time but it just hasn't, so people have been off sailing on other different boats," said Barker.
"Having the Louis Vuitton Pacific Series in the first instance is a great focus, and then to be able to come out of that and get the TP52 in the water and get that ready for a season of racing up in the Med is going to be great."
Barker said the TP52 circuit is one of the most competitive in the world and will give Team New Zealand a strong platform to hone their skills for the America's Cup.
"If a team is to stay sharp and focused it needs to sail as a team. With a crew of 15, the TP52 will let us work combinations and communications in full-on racing conditions."
The new TP52 yacht is being built by Cookson Boats on the North Shore, and has been under construction for the past two weeks.
Team New Zealand bowman Richard Meacham is managing the project.
The boat will be launched in February following the completion of the Louis Vuitton series before being shipped off to Europe for the Med Cup circuit.
Team New Zealand will be competing in the Med Cup through the backing of Emirates, who yesterday confirmed it will continue its sponsorship of the Kiwi syndicate through to the next America's Cup.
Team NZ boss Grant Dalton said the sponsorship deal gives them greater stability against the background of uncertainty over the timing of the next regatta because of ongoing court action and the present turmoil in world stock markets.
"Everybody in this team is enormously grateful to Emirates for the continued support through the smoke and the flames and the mist that we live in a little bit at the moment," he said.
No dollar figure has been put on the sponsorship. But Emirates president of group services Gary Chapman said his company's contribution is "significant" and "to a higher level than before".