In a unanimous decision today, the New York Court of Appeals threw out CNEV's challenge and pronounced the Golden Gate Yacht Club the Challenger of Record for the 33rd America's Cup. The judges decided 6-0 that the Deed of Gift's "annual regatta" requirement was not met by CNEV and called SNG's argument that "having" a regatta meant that it could be in the future an illogical conclusion and went so far as to award legal costs to BMW/Oracle. You can read the complete ruling here.
The judges also wrote that "it falls now to SNG and GGYC to work together to maintain this noble sailing tradition as a perpetual Challenge Cup for friendly competition between foreign countires", but given the previous rivalries between the two groups most doubt that it will be anything but friendly!
This event will likely see more time in the courtroom as both sides play the measurement, construction nationality, and racing rules game - however one thing is for certain, if our local Core Builders was under the gun before to come up with some trick new parts for DoGZILLA, they must be really feeling the pressure now!
Let the games begin!