Former America's Cup champ Alinghi of Switzerland won't try to win it back the next time the trophy is up for grabs- 2013.
Alinghi spokesman Paco Latorre said the syndicate will skip the 34th America's Cup, and focus on a series that races 40-foot catamarans.
"After a careful evaluation of the protocol and other initiatives taken by the American Defender and its Challenger of Record, Alinghi considers that the existing conditions make it impossible for the team to participate in the 34th America's Cup," Latorre said in a statement.
Owned by Swiss tycoon Ernesto Bertarelli, Alinghi won the America's Cup in 2003 and successfully defended it in 2007, but they were beaten in two straight races by San Francisco-based BMW Oracle Racing off Valencia, Spain, in the 33rd America's Cup last February.
Larry Ellison and Bertarelli fought in the courts for two-and-a-half years trying to determine the rules of the race... all of the rules...
Here's Race 2 and the clincher from last time...