27 Mar 2010

America's Cup teams drop claims against each other

1:13 pm on 27 March 2010

The teams in last month's America's Cup have agreed to drop outstanding legal claims against each other.

The Golden Gate Yacht Club, under whose colours BMW Oracle sailed, say in a statement that the agreement included its "breach of fiduciary duty" claim against the Alinghi team.

Alinghi confirmed it had reached a settlement with Golden Gate.

BMW Oracle won the 33rd edition of the sailing series off Valencia, Spain in February against defending champion Alinghi of Switzerland.

The 2010 event was held after more than two years of bitter legal wrangling over yacht design and construction between Ellison and Bertarelli.