After New Zealander Russell Coutts, a new King has been crowned on the waters of Hamilton harbor.

Australian James Spithill won the Investors Guaranty presentation of The King Edward VII Gold Cup match race championship, Sunday, beating the defending champion in a thrilling decider 3:2.

Spithill, 26, the Luna Rossa Italian America's Cup helmsman and current world champion, lost the first race at the start, regained his composure in the second heat, but lost again to the 7-time Gold Cup winner in the third.

This left the Australian with the uphill battle of winning the final two races, but far from buckling under the pressure, Spithill took total control of both starts and the rest is history.

In in the petite-finals to decide 3rd and 4th placings, Steffan Lindberg of Finland defeated Ed Baird from Team Alinghi 2-0. Baird, who went down to James Spithill in the semi-finals 3-2 could not overtake the fast moving Finns who dominated both races.

Finals

Finale : Coutts def. Spithill - Spithill def. Coutts - Coutts def. Spithill - Spithill def. Coutts - Spithill def. Coutts

Petite finale : Staffan Lindberg def. Ed Baird - Staffan Lindberg def. Ed Baird

Semifinals

Flight 1 : Spithill def. Baird - Lindberg def. Coutts

Flight 2 : Spithill def. Baird - Coutts def. Lindberg

Flight 3 : Baird def. Spithill - Coutts def. Lindberg

Flight 4 : Baird def. Spithill - Coutts def. Lindberg

Flight 5 : Spithill def. Baird

Places 5 to 8

Flight 1 : Richard def. Brady - Dickson def. Williams

Flight 2 : Dickson def. Richard - Brady def. Williams