Sailing-NZ beat Alinghi to level America's Cup

VALENCIA, June 24 (Reuters) - Team New Zealand staged a stunning comeback to beat Swiss team Alinghi today and level the best-of-nine America's Cup series 1-1.

In one of the most exciting races in recent Cup history, Alinghi had led at the first mark despite being beaten off the start by New Zealand after a closely fought pre-race duel.

But the Kiwis ground Alinghi down on the second upwind leg and the balance of the race shifted on one critical tack, with Team New Zealand rounding the final mark with a 15-second lead.

They extended this downwind to win convincingly by 28 seconds, dispelling any idea of Alinghi's newly-built SUI100 having a clear speed advantage.

''It all felt good on board ... It's going to be all on, as you can see. We just need to keep our feet on the ground and keep sailing our boat,'' said New Zealand crew member Tony Rae.

Team New Zealand were towed back into harbour to cheers and the sound of boat horns from the hundreds of New Zealanders who have travelled to the Spanish Mediterranean port of Valencia in the hope of seeing their team win back the America's Cup.

The Cup was snatched from them in Auckland in 2003 by the well-financed and meticulously planned Alinghi syndicate, bankrolled by biotech billionaire Ernesto Bertarelli.

Not since 1983 has the loser of the opening race gone on to win the Cup, a run the Kiwis are looking to reverse.

Alinghi rubbed salt into the wound of their 5-0 trouncing of the Kiwis in 2003 by poaching six of the New Zealand team who won the America's Cup in 1995 and 2000 to crew their boat.

There is more than just national pride at stake, with the winner able to dictate the venue, date and rules of the next Cup and with it influence where the money which follows the cash-hungry sport will end up.

The jury had been out on whether SUI100, the ''rocketship'' which the Swiss team had shrouded in secrecy ahead of its racing debut yesterday would be what decided the 32nd contest.

But today's Team New Zealand victory proved that Alinghi were not invincible.

''Upwind and downwind there is not a lot in it, sometimes you make a big gain. It's all about shift and pressure and who makes the best job of using it,'' New Zealand's Rae said.

REUTERS JT VC2320