KEY POINTS:
Team New Zealand won a thrilling encounter with Alinghi by 25 seconds this morning. This is how the race unfolded:
* In the pre-start, Team NZ targeted the right-hand side of the line, but appeared to pay a big price for doing so by having to make a tack just before the gun.
* In a split-tack start, SUI100 helmsman Ed Baird crossed with speed and had an immediate two-boat length advantage as NZL92 struggled to get going.
* The New Zealanders' decision to head out to the right paid massive dividends in quick time. Dean Barker hooked into a significant windshift and had more pressure to streak out to a lead of more than 100m when the boats crossed for the first time.
* The margin steadily grew as the yachts were sailing in different breezes, with Team NZ continuing to profit on the right.
* Team NZ put on a loose cover and rounded the top mark 1m 23s ahead, with their spinnaker set while Alinghi were still making their way up the beat.
* The margin contracted and extended with the wind. Alinghi found some extra pressure late in the run to eat into Team NZ's lead.
* Just before the bottom gate came crewing woes for NZL92 and Alinghi rounded 1m 02s behind for a 21s gain on the leg, and continued to close in.
* As the boats approached the top mark from opposite directions, with NZL92 having right-of-way, Alinghi had just enough of an advantage to cross in front and round 15s ahead, a huge gain of 1m 17s on the leg.
* On the shifty run home, with the outcome wide open, came the dramatic finale that fell Team NZ's way.
- NZPA
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