Team New Zealand says it will withdraw its legal action against America's Cup holders Alinghi to ensure the success of the Louis Vuitton Pacific Series.
Managing director Grant Dalton says Alinghi has committed to sending a competitive team to Auckland if the legal proceedings were withdrawn.
Dalton says it's their view that the regatta - and Alinghi's participation in it - is an important initiative towards repairing the harm that recent events have done to yacht racing at this level.
He says for that reason they're prepared to respond positively to Alinghi's commitment to the regatta by meeting its condition of discontinuing their proceedings.
Twenty three sailing teams have expressed an interest in competing in this summer's event in Auckland and up to 12 teams can be accommodated.
Team New Zealand had taken action against the Swiss syndicate because of the continuing uncertainty of the next America's Cup regatta.
