Dean Barker has quashed speculation linking him with Oracle Racing, saying he wants to stay put.

He said he had signed a letter of intent to remain with Team NZ for the next cup regatta in Valencia in 2009.

"Emirates Team New Zealand has moved to retain key members, including myself, and I have signed a letter of intent," he said in a statement.

"I have had approaches from a couple of teams", he added. "But I would like to stay with Team New Zealand, the team that has worked so hard since 2003 to restore some pride in New Zealand sailing and regain the New Zealand public's confidence."