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Swiss yacht Alinghi have pulled out of their showdown with Team New Zealand in the Louis Vuitton Pacific Series regatta, wiping out a scheduled re-run of the 2007 America's Cup final.

It was a strategic move by Alinghi, who had nothing to gain but plenty to lose had they fronted for a race where they could not win points if they won but they could lose points if they suffered a penalty.

In this regatta there is nothing at stake in the second round robin for races against Team New Zealand, with the hosts already assured of a place in the finals under the regatta rules.

Alinghi helmsman Ed Baird said it did not make sense to take a risk in a race that did not count, but New Zealand skipper Dean Barker was livid at the no-show.

"Their action was insulting and disrespectful to our team and to the New Zealand people," Barker said.

When the two crews last clashed in the America's Cup final two years ago, Alinghi triumphed 5-2.

The race between Britain's Team Origin and the Italian syndicate Luna Rossa produced the closest finish of the series so far with the lead changing several times before Origin prevailed by a mere four seconds.

The third race in the gold fleet saw BMW Oracle beat Italia Challenge by 27 seconds to leave Oracle, Alinghi and New Zealand with two wins each in their pool.

In the clash of the two unbeaten teams in the silver fleet, China Team and the French entry K-Challenge, the French had a clear lead when the race was abandoned as neither boat completed the first leg within the 20-minute limit.

But when the race was re-started on a new course, the Chinese won the start and led all the way to the finish to win by 57s.

AFP