The challenger's cup semi finals have started and Alinghi beat Oracle BMW while OneWorld beat Prada. Best 4 out of 7. Sort of.

First blood to Alinghi and OneWorld in semi final

Drama marked the opening races of the Louis Vuitton Cup semi final in Auckland today, with lead changes and broken equipment providing plenty of excitement as the yachts raced in south westerly breezes of 16-20 knots.
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The time between the quarter and semi finals has not been without controversy. Dennis Conner tried to save Stars and Stripes' sorry ass by bringing old charges against OneWorld hoping to disqualify them. That didn't work but OneWorld does have to sail the rest of the series with penalties.

OneWorld Disappointed

The America’s Cup Arbitration Panel (ACAP) has docked the Seattle Yacht Club’s OneWorld Challenge one point in the Semi Finals and Finals of the Louis Vuitton and in the America’s Cup, if it advances that far. In addition it has been ordered to pay costs to the Panel of US$65000.
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