Team New Zealand have advanced directly to the semi-finals of the Louis Vuitton Trophy yachting regatta.

Team NZ again had to bide their time today as the Louis Vuitton Trophy yachting regatta in Italy was hit by a collision that damaged two of the four boats being used.

Team New Zealand boss Grant Dalton says the decision to branch out into ocean racing is not a change in direction but the final step to becoming a full-time operational team.

Team NZ completed a 2-0 victory over Italians Mascalzone Latino in a shortened final off Auckland today.

Meetings between Sir Russell Coutts and potential America's Cup challengers have highlighted the need for budget restrictions ahead of the 34th America's Cup.