Team New Zealand Wins! In two weeks, it will be a re-match of the America's Cup 2003.

Luna Rossa put up a new mainsail and made a change to the appendage package last night. Their boat was faster, but not fast enough. They were beaten by a better boat, and a better team. The Italians fought hard and all the way to the end.

Now, New Zealand will come up against its nemesis of 2003, Alinghi!

It should be a great final. Both teams have a large contingent of Kiwis. This small country has produced a huge amount of sailing talent which has found its way to the heart of many America's Cup teams.

A beautiful prizegiving immediately followed today's racing, in the America's Cup harbor here in Valencia. A few beers and bottles of Moet Chandon will be consumed by all tonight.

Now I am going on a vacation in Italy for two weeks. I will resume my updates on June 23 with the first race for the America's Cup.