from the ranks of Team New Zealand to that of billionaire Ernesto Bertarelli's new Swiss challenge.

Speaking during the first official America's Cup press conference since the competition earlier this year, the two-time champion at first joked about his moving on to Switzerland as having something to do with an affinity for melted cheese, before simply noting it to be an opportunity too good to refuse.

"We enjoy the Swiss fondue over there,'' said Coutts to rapturous laughter from the gathered media and onlookers. "But seriously, I guess there are a lot of reasons, most of which I won't go into.

"Basically it was a great opportunity for us that made the move and I must say that so far it's been very, very enjoyable.

"We're looking forward to going in the challenger series again. We enjoyed it in 1995 and this one's going to be a lot tougher than that and we like to go racing.'' The 38-year-old native of Auckland has now moved to Switzerland along with the core of his match racing team, where he adds the role of executive director of the challenge from the Societe Nautique of Geneva to that of helmsman.

And while great noises -- indeed cries -- were made upon the announcement of the change in allegiance, Coutts said that he had received little negative feedback from the public, although the media attempted to highlight his status reversal from that of favoured son to villain.

"While in the (United) States people switch teams all the time, they don't receive the same treatment we receive,'' added Coutts, who first won the Cup in 1995 and successfully defended it this year. "But now, and I think they might have had a poll recently where something like 70 percent of the people supported me and understood the move.

"I haven't received a bad comment from anyone individually there, although certainly there have been some media that have tried to drag me over it...probably to increase their own ratings.'' Coutts will be a part of a challenger contingent that looks like containing in the region of nine syndicates, with action due to get under way in two years.

"It's going to be an absolutely fantastic event, there are some very competitive teams,'' he added.