It has been revealed that Grant Dalton has sent a letter to Ernesto Bertarelli demanding compensation for the postponement of the Americas Cup in 2009.

Mr Dalton stated in his letter that the losses to the New Zealand team would amount to €12 million if the race is postponed to 2010 and nineteen million Euros if the races take place a year later.

"Team New Zealand entered into the agreement in good faith. The contract provided the assurance we needed to plan for 2009," team boss Grant Dalton confirmed today in a statement.

It is still not clear whether Mr Bertarelli intends to appeal Justice Cahn's findings, for if he does decide to take that course, the Americas Cup raves could be delayed by another year.