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Skipper of BMW Oracle folds his sails after defeat

Chief executive and skipper Chris Dickson resigned from BMW Oracle Racing on Thursday, four days after the sole US entry made an early exit from the America's Cup.

Dickson was at the helm for all but one of BMW Oracle Racing's Louis Vuitton Cup semi-finals match races against Luna Rossa of Italy, which the Italians won 5-1.

The San Francisco-based syndicate flopped after coming into the 32nd America's Cup with the event's highest budget of nearly 200 million euros (US$270 million). It eased through the round-robin stages to a second-place finish.

"After four years of intense effort and at the conclusion of our participation in the current America's Cup cycle, I have decided to step down," Dickson said in a statement. "I have decided that leaving now will allow both me and the team to move on and make plans for the future."

Dickson, a former No. 1 match racer with three world titles, was replaced by team owner Larry Ellison ahead of the team's sixth-flight match race in the semi-finals.

The move came after Dickson was dominated in the start box through the series by his Luna Rossa counterpart James Spithill.

Dickson, a 46-year-old New Zealander, had guided the team from the start of the current campaign in 2003.

"BMW Oracle Racing has a solid foundation for continuing into the future," Dickson said.

Dickson is a veteran of five America's Cups. He was given a shore role at the last America's Cup in Auckland, New Zealand, after reported friction with teammates at Oracle.

After a poor start to the round-robin stages, Dickson returned to lead Oracle to the Louis Vuitton Cup final, where it lost to eventual Auld Mug winner Alinghi.

Ellison said that the team would continue with preparations for the next America's Cup campaign, although with new leadership.
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