A New York State appeals court ruled this week that the Golden Gate Yacht Club is the legitimate challenger for the next America's Cup, ending a dispute that has lasted almost two years.

As a result, defending champion Alinghi said it was prepared to discuss terms of the next race with the Golden Gate Yacht Club, which sponsors the BMW-Oracle team.

That could mean a duel solely with Alinghi or a traditional multi-boat regatta.

New York state's highest court, the Court of Appeals, found that Swiss-based holders Alinghi was wrong to accept a challenge from Club Nautico Espanol de Vela, a Spanish team that had formed as a club just days before submitting its challenge.

The 33rd running of the race was originally scheduled for this year.

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