"We were on our side for an hour. That's when the damage was done," he said.
"When we capsized in Auckland soon after we got the boat, we were upright in three to four minutes and damage was slight.
"As we went over I expected to be upright in a few minutes and ready to race for the second match that afternoon."
The capsize occurred at the top mark during the first quarter-final race against Luna Rossa Piranha; Team New Zealand was comfortably ahead.
A problem with the leeward runner meant they could not ease the wing sheet as they rounded the mark.
Unable to go either up or down, the capsize was inevitable.
Today's incident was the latest in a series since the team arrived at Newport.
Two AC45 crewmen have been sidelined by injury. Bowman Winston Macfarlane has returned to Auckland after injuring a shoulder in practice and trimmer James Dagg's head collided with tactician Ray Davie's elbow. As a precaution, he is being rested for a couple of days.
Sailing crew members Derek Saward and Jeremy Lomas, both heavily involved in past months with the AC72 build programme, were called in at short notice to fill in.