The two-time America's Cup winners Alinghi have announced that they won't take part in the next edition of the famous yachting race in 2013.
The Swiss syndicate says in a statement that after a careful evaluation of the protocol and other initiatives taken by the American defender BMW Oracle and its Challenger of Record, the Italian team Mascalzone Latino, Alinghi considers that the existing conditions make it impossible for them to participate in the 34th America's Cup.
Alinghi is to instead take part in the Extreme Sailing Series, a series of regattas contested by 12-metre catamarans.
Two other teams, Britain's TeamOrigin - led by triple Olympic champion Ben Ainslie - and Team Germany, had also declared their decisions to withdraw from the race in recent weeks.
Alinghi won the prestigious America's Cup, one of the world's oldest sporting competitions, in 2003 and 2007 but lost this year's race in Valencia, Spain. Following a long legal battle over the rules governing the event, Alinghi was beaten 2-0 by BMW Oracle's yacht USA 17.