After the Tuesday decision, BMW Oracle said they would prefer to avoid a best-of-three series against Alinghi next summer, which could occur if the sides can't agree to a traditional regatta.

"I'm relieved because at least the judge agreed with what we put forward," BMW Oracle Racing spokesman Tom Ehman said. "I'm not happy because we still have to move forward and sort this out".

"We want to get on with sailing", he added. "We could have done this a long time ago. We should have been able to do this a long time ago."

"We want the competition to resume as soon as possible," Tom Ehman told AFP, adding that a "strong majority" of the challengers who met Wednesday with Oracle for informal talks would like the yacht race to go ahead in 2009 as originally planned in Valencia.

Team NZ Syndicate head Grant Dalton was the first to speak publicly, welcoming yesterday's decision and saying as far as Team New Zealand is concerned, they have been, and will continue to work towards, a 2009 regatta.

"That's what we've always been working towards in the hope common sense would prevail," he said. "Now there is that opportunity if Alinghi agree and everyone lays down their weapons and just gets on with it."

Dalton said a 2009 regatta is "100 per cent" Team New Zealand's preference.

"We're a team that's in it's stride. We haven't taken a backward step since the day after [the failed challenge in Valencia]. We've come back here and just quietly got on with our own business."

Dalton added Oracle's "good will and intent" to stage the event in 2009 has never waivered. He believes Oracle's proposal is fair, but it remains to be seen whether Alinghi will now settle.

"We just have to see how Alinghi react now", he said. "They could appeal, they've consistently said they wouldn't and the opinion we have from our legal people, based on the way the judgment's been put together, is that an appeal would not be successful."

"If there is no compromise on the proposal, a one-on-one series would be held on the water in July next year between Alinghi and Oracle", he concluded. "Then you know at that point whether Alinghi win or Oracle win and the next event would be in Valencia in 2011 or 2010 or 2011 in San Francisco - we can deal with that."

Tom Ehman said he hadn't spoken with anyone from Alinghi, which is backed by Societe Nautique de Geneve. But after seeing a statement from Bertarelli, Ehman was optimistic the Swiss will sit down and talk.