BMW-Oracle and Alinghi have expressed an early willingness to sit down and thrash out the future of the next America's Cup after the New York State appeals court yesterday ruled in favour of the Golden Gate Yacht Club.

The unanimous ruling by New York's top court found that Spain's Club Nautico Espanol de Vela was not a legitimate Challenger of Record and handed Golden Gate, which backs Larry Ellison's BMW-Oracle Racing, the right to negotiate race terms with two-time defending champion Alinghi.

As far as the future of the America's Cup goes, the two syndicates have now reached a fork in the road. They can either sit down and mutually agree on a set of rules for a multichallenger regatta, or, if that cannot be achieved, the dispute will be settled on the water in a one-on-one showdown as specified in the Deed of Gift.

The second option opens the door for another round of court arguments and appeals if the two sides disagree on terms of the Deed of Gift challenge.

That point was clearly not lost on the New York appeals court judges, who, in issuing their ruling, called on Alinghi's Ernesto Bertarelli and his rival to sit down and sort out their differences.

BMW-Oracle have maintained throughout the 21-month legal battle that, should the courts rule in their favour, their preference would be to try to work through a new set of rules for a multichallenger event.

At this stage it appears Alinghi are prepared to play ball, with the Swiss syndicate releasing a brief statement after yesterday's court ruling.

"Today through the American courts the Golden Gate Yacht Club has won the right to challenge the Societe Nautique de Geneve. We will now discuss the terms for the regatta with them and will prepare our defence of the 33rd America's Cup."

It is believed that Bertarelli, a biotech tycoon, has already contacted Ellison to open discussions.

Despite both parties showing a willingness to come to terms, Emirates Team New Zealand chief operating officer Kevin Shoebridge believes the chances of holding a regular multichallenger in July next year, such as Alinghi were gearing up to host before yesterday's decision, are "slim".

"There's some serious talking that needs to take place between the two of them and that has proven very difficult in the past," said Shoebridge.

"Until those two guys start talking and give some direction, we don't know what path it would take."

While Shoebridge believes it is unlikely a multichallenger event will be held in 14 months' time, he said there was no danger Team NZ would collapse. He said the syndicate had always prepared for the two possible outcomes and they had the resources to sustain themselves.

"We've always planned for both scenarios - we had gone through what happens if GGYC wins, what happens if Alinghi wins.

"So we've got a dollar each way, that's the reason we did the [Louis Vuitton] Pacific Series, that's the reason we're doing the TP52s, we've always known that we've had to get through this year."

The syndicate shipped their new TP52 yacht out to Europe this week ahead of the opening round of the Med Cup circuit next month.