9.30pm
The America's Cup will undergo key changes when it is held in Europe for the first time, probably in 2007.
The Swiss cup holders, Alinghi, who completed a 5-0 sweep over defenders Team New Zealand at the weekend, this evening unveiled the protocol for the next event.
Alinghi executive director and skipper Russell Coutts said the most significant innovation was that the whole regatta would be managed by one organisation.
Until now, the challengers' series and the cup match have essentially been separate events.
Other changes included introducing an independent race management committee and race director, which until now have been appointed by the host club, and scrapping the nationality rules.
The protocol is agreed before each America's Cup between the defending club and the first club to issue a challenge.
In this case, it was the San Francisco-based Golden Gate Yacht Club, represented by Oracle BMW Racing, who issued a challenge shortly after Alinghi clinched the trophy on Sunday.
Alinghi and Oracle are both backed by billionaires -- Ernesto Bertarelli and Larry Ellison respectively.
Coutts said one aim of the changes was to promote a competitive regatta for all competitors.
Another was to encourage the worldwide growth of the America's Cup.
"We haven't gone and changed everything," he said. "But we have allowed for some innovations that we think are going to make this an even better event."
The regatta venue would be in Europe and would be announced before December 15.
"Ideally we want to find a venue that has consistent weather conditions so we can plan for live television," Coutts said. "We can plan a schedule of races much the same as many other sporting events."
Coutts said his personal vision was to create something similar to Auckland's Viaduct Harbour, but also have the crowd on land close enough to experience the action on the water.
He said the class of yacht would remain the same, although there could be subtle amendments to allow them to race in a greater wind range.
Another change would allow a syndicate that purchased an old boat to buy its performance information as well.
As well, old technical information up to and including the just-competed cup regatta could be sold until October 2004.
"New teams will be able to come in on a more level platform," Coutts said.
"They are not necessarily starting from so far behind some of the existing teams that it is very difficult for them to catch up."
The race course would continue to have a windward-leeward configuration, but the race committee would have more flexibility in determining its length, again taking television into account.
The entry fee would be €450,000 ($876,300), with a bond of €1 million. The entry fee last time was US$325,000 ($585,600) with a bond of US$1 million.
Coutts said he hoped there would be up to 20 competitive challengers.
Fellow Alinghi executive director Michel Bonnefous said the nationality rule, requiring people to live in a particular country, was being scrapped to save syndicates money.
"The teams have spent an enormous amount of money [on this]," he said. "We decided to avoid the cost next time and cancel the nationality rules."
Alinghi's victorious multi-national crew contained seven New Zealanders.
A series of annual regattas were being planned as a lead-up, beginning in San Francisco later this year, with the rest in Europe.
The lead-up events, which will culminate in a fleet race, including the defenders, at the cup venue early in 2007, would help to determine seedings for the challengers' series.
Team New Zealand spokesman Murray Taylor said the syndicate had no immediate comment to make about the protocol.
"We are reflecting and reviewing where we've come from," he said. "We'll probably reserve our comment until later this week."
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Alinghi announce changes to America's Cup
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