retained the America's Cup for New Zealand, has accused the holders of dragging their feet over accepting the Swiss challenge he has joined.

He said from Bermuda yesterday: "On August 18 we challenged, and we paid our money, and our money has been banked, which is interesting. If there was any doubt you'd think they'd hold the money back and bank it later.'' The sticking point seems to be the clause in the America's Cup Deed of Gift, which states that a challenging club's annual regatta must be held "on the sea, or an arm of the sea''.

The challenge that Coutts and other key members of Team New Zealand have joined comes from the Societe Nautique de Geneva, based on Lake Geneva.

But Coutts pointed out that they hold their annual regatta at Cannes in the south of France and the Royal New Zealand Yacht Squadron cup-holders were invited.

"They did observe the annual regatta, added Coutts. "They saw it was a real thing, well presumably they observed it. They said they had a representative there, and still we are not accepted.'' Coutts, still on the Island after winning his sixth Gold Cup in Hamilton Harbour last weekend, is concerned about the patience of the man who is funding the Swiss challenge, pharmaceuticals billionaire Ernesto Bertarelli.

"I look at it from Ernesto's point of view,'' said a frustrated Coutts, "and there's a guy who's really passionate about sailing, and he wants to get into the America's Cup game. "This has been harder than he thought, in terms of just even getting an entry, and I really wonder whether this is good for our sport.'' The next America's Cup is due to be staged in Auckland in February 2003, with the Louis Vuitton elimination series for the challengers starting in October 2002.

Up to 12 challenges are expected -- with the United States already having three, Italy expected to field two and Germany, Sweden and England one each.

Russell Coutts: disappointed by attitude of fellow New Zealanders.