America's Cup helmsmen Russell Coutts of New Zealand and Paul Cayard of the USA will resume their celebrated rivalry at the 56th Brut Gold Cup in Bermuda from October 15 to 22.

Coutts, the number one ranked world match racing sailor and skipper of the Kiwis' recent America's Cup-winning crew, will be in Bermuda for what race officials described yesterday as the most competitive event in yachting.

The world's top 14 sailors -- and 16 of the top 20 -- will compete in the final jewel of the Brut by Faberge Sailing Series, with a prize purse of $100,000 on offer.

More details of the International One Designs event -- formerly known as the Omega Gold Cup -- were unveiled yesterday at a news conference at the Royal Bermuda Yacht Club, with sponsors, officials and one of the competitors in attendance.

Sailor Chris Law of England, ranked 11th in the world, was also an eyewitness to the recent America's Cup as a television commentator for New Zealand's top network. He indicated that the same excitement which was palpable last month in San Diego is certain to be duplicated here in October.

Although the final line-up won't be known until July 18, all but certain to compete besides Coutts and Cayard will be reigning champion Rod Davis of Australia and fellow Aussie and last year's runner-up Peter Gilmour.

Other skippers will be Ed Baird of the USA, Thierry Peponnet of France, Magnus Holmberg of Sweden, Jesper Bank of Sweden and Roy Heiner of Holland.

Heiner won the first race of the series in San Francisco, a good start since the first sailor to manage a hat-trick will also receive a cash bonus of $250,000. They'll also be the recipient of a Faberge Egg, valued at $6 million.

"To win three out of five, that's going to be difficult,'' conceded Law following the reception in the RBYC's Trophy Lounge.

RBYC commodore Brian Billings yesterday trumpeted the Gold Cup as the "greatest match racing regatta in the world. We've built this tournament into the best of its kind and we've set high standards.'' With Coutts and Cayard among the 24 competitors, Billings said the event would undoubtedly be the focus of the sports world in September.

Law is planning to make Bermuda his permanent residence and in addition to proving himself as one of the world's best sailors he excelled as a commentator during the America's Cup.

He said the victory by New Zealand was bound to have an indelible impact on the sport.

"I think it'll put a backbone into it and I think the American win-at-all-costs attitude and justify it later is gone,'' said Law. "I think what New Zealanders showed is that it's not winning that's important, it's how you win that's important.'' A Cayard-Coutts showdown would also be a reprise of the exciting final between the pair during the 1993 Cup won that year by Coutts.

"We're really happy, really excited,'' said Scott McLeod, president of Sail Sports of Connecticut, the company running the event. "With the skippers coming this will be acknowledged as the number one event in sailing. You won't even get these skippers at the world championships.'' Said Law: "I think Bermuda ought to be very proud of it. These sailors are coming here because it's where they really want to be and that's great for Bermuda.'' During a post-America's Cup interview on ESPN, Cayard pointed out how one of his "most incredible battles'' took place in Bermuda against Coutts.

"I think Cayard would love to have a rematch of that one,'' said McLeod.

Billings confirmed that the the Cup would be televised on ESPN, with a 30-minute programme produced after the event.

Bermuda will be represented in the race by two sailors with qualifying taking place in the Nation's Cup, formerly known as the Bank of Bermuda Cup. Peter Bromby and Adam Barbosa were qualifiers in 1994 with Blythe Walker being added at the last moment when one sailor pulled out.

Law said yesterday he was hoping to work with Bromby, ranked 19th in the world.

"I like Peter very much and I think he represents Bermuda very well internationally,'' said Law. "He's such a great guy and very approachable, very unpretentious and very honest. He's somebody I'd like to get to know better and he and I hopefully will work together for the Gold Cup.'' CHRIS LAW -- hoping to work with Bermuda's top sailor Peter Bromby.