The initial Louis Vuitton Cup was contested off Newport, United States, with Australia II prevailing, thereby earning the right to meet the NYYC’s defending yacht Liberty in that year’s America’s Cup.
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In 2003 he led Oneworld in the America's Cup, reaching the semifinal of the Louis Vuitton Cup, where he was beaten by Oracle BMW Racing.
On January 19, 2003 the Swiss challenger Ernesto Bertarelli’s Alinghi, skippered by Russell Coutts, won the Louis Vuitton Cup Finals by defeating the American challenger, Larry Ellison's Oracle, 5–1, once again eliminating the United States from the America's Cup competition.