CEO and skipper Chris Dickson has resigned from the BMW Oracle Racing team four days after his team fell to Luna Rossa in the Semi Finals of the Louis Vuitton Cup. The resignation is effective immediately.  

"After four years of intense effort and at the conclusion of our participation in the current America’s Cup cycle, I have decided to step aside,” said Dickson in a statement.

"Rather than see out the final weeks of my contract, I have decided that leaving now will allow both me and the team to move on and make plans for the future."

Team owner Larry Ellison has announced his intention to participate in the 33rd America’s Cup.

"As we look to the future, the best option is for owner Larry Ellison to appoint a new leadership team for the 33rd America’s Cup,” confirmed Business Director Russell Green.