America's Cup Match - Day 3: Emirates Team NZ ridicule Alinghi and win most thrilling race ever

What a day. When it started it looked as if we were going to have one of the infamous days of the Louis Vuitton Cup with choppy seas, light, shifty winds and cancelled racing. But when it ended it was bound to enter the history books as the most exciting and thrilling race of the 32nd America's Cup. Both teams went from hell to heaven, from hero to zero a couple of times during the 2 hours it lasted.

Yesterday night's thunderstorm and 30-knot winds had created an extremely unstable environment. The race committee had to wait for 2 hours before the clouds left, the sun came and the sea breeze built up. Still, a number of false starts took place as the breeze was stubbornly erratic and volatile, continuously shifting within a range of 30 degrees. When most spectators had given up hope, it seemed we had a more stable situation and at around 5pm the race committee signaled the beginning of the 10-minute preparatory period before the start. Wind speed was around 9 knots and direction 105 degrees.

The prestart was slightly more aggressive than in the first two races. Emirates Team NZ entered the prestart box from port with the intention to keep the right side at the start. Once again, the weather gurus (you can't call them anything other than that) at the New Zealand challenger were insisting on that side. Dean Barker did exactly that but the price he paid was an 8-second disadvantage and much slower speed. The excitement among the Swiss fans lasted very shortly since the kiwis were absolutely right on their prediction and a 20-degree right shift powered them ahead and as a rocket lead up to the top mark, rounding it with an incredible lead of 1:23 minutes.

During the first downwind leg, the wind favored both teams at various stages but the New Zealanders were always comfortably ahead, extending at some points their lead to over 300 meters. Still, at the approach to the leeward gate, NZL-92 got into trouble due to shifting winds. While their intention was initially to round the left gate, they were forced to go to the right but then a further shift meant the right gate was not an option any longer. Bowman Richard Meacham went into the water briefly but got himself back on board and as the spinnaker was dropped, the sail became entangled with the clew of the jib. The kiwis lost precious time and rounded the gate 1:02 minutes ahead of Alinghi.

Despite the efforts of the crew, it took quite some to settle the spinnaker problem aboard NZL-92, giving Alinghi the opportunity to close the gap in the second beat. Not only that, they managed to get ahead of the New Zealanders and take advantage of yet another wind shift, this time to the left, and round the top mark 15 seconds ahead.

That brings us to the last leg and to another mind boggling puzzle for the tacticians, especially in the dying breeze (it was already 6:30 pm). Alinghi started with an advantage that reached 160 meters but had to make the tactical decision which way to go. Once again, it seemed they repeated yesterday's error. They opted for the left, hoping to find more pressure there but with the kiwis sticking to the right, they allowed a lateral separation of over 1,300 meters.

Once again, that was the beginning of the end for the Defender. The pressure was on the right and the kiwis took advantage of it. They slowly chewed out the gap, meter by meter. While the two boats were approaching the finish line it was getting obvious Alinghi was struggling in the left at the bottom. NZL-92 was sailing clearly faster and sneaked in front of SUI-100, crossing the finish line 25 seconds ahead of Alinghi.

Prestart of the 3rd race of the 32nd America's Cup Match. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

The gun has just been fired and Alinghi is firing up on all cylinders. Emirates Team NZ's boat starts 8 seconds late and with much smaller speed. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

Right off the start, Alinghi got into a lead while Emirates Team NZ was behind. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

The decision to go to the right paid handsomely for Emirates Team NZ. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

The first cross of the race. Emirates Team NZ had built an enormous lead over Alinghi. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

Emirates Team NZ's mid-bowman Richard Meacham fell in the water but was able to hold on to the lines... Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

... and was able to climb back aboard. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

That was the start of a bad spinnaker drop for Emirates Team NZ. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

After rounding the right gate the spinnaker was still causing problems aboard NZL-92. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

Alinghi were heading for the left gate while NZL-92 was already on the second upwind leg. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

Emirates Team NZ kept having problems with their spinnaker and for most spectators it was probably the moment they thought the tables were turned. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

The problem with the spinnaker continued well up the second beat. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

At the first cross of the second upwind leg Alinghi had dramatically reduced the lead of NZL-92. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

Three quearters up the second upwind leg, a situation quite similar to the second race but with roles inversed. Alinghi steal the lead from Emirates Team NZ. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

Alinghi thought they had it in the last leg but they actually didn't. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

Emirates Team NZ cross in front of Alinghi in the last stretch of the final leg. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

Not only did NZL-92 came back in the race, Emirates Team NZ managed to speed ahead and steal the lead in the final hundred meters. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing

NZL-92 crosses the finish line and Emirates Team NZ score another great victory, humiliating Alinghi. Valencia, 26 June 2007. Photo copyright Pierre Orphanidis / Valencia Sailing