New Zealand's AC75 America's Cup vessel sustained damage when it was lifted out of the water at Barcelona. They will not race on Friday until they have assessed its full extent.

New Zealand confirmed that all members of its team were safe after the incident on Thursday, which occurred during the first day's competition for the oldest sporting trophy - known as the "Auld Mug" - in the Spanish Mediterranean City.

The team stated that there was a problem with the lift, and the boat fell heavily onto the cradle. After initial assessments, they decided to not sail on Friday.

The team used a portable crane to secure the boat and stated that the full extent of damage would be assessed over night.

Grant Dalton, CEO of New Zealand, said: "These moments can define an America's Cup Campaign. We have an incredible group of talented and dedicated people who will work around the clock to get the boat repaired."

After racing, the America's Cup AC75 race boats are craned to shore and placed on huge cradles that protect their foils and rudders. The boats are stored in large'sheds,' which look like hangars. This allows engineers to work on the boats.

New Zealand, as defenders of the team, does not need to qualify for the final head-to-head but is still participating in the round-robin six-boat series that will determine which of five possible challengers they face in October.

The United States, France, Italy and Britain have entered teams to compete in the race with their high-tech mono-hull 'foiling boats' that 'fly above the water' on hydrofoils, at speeds exceeding 30 knots.

New Zealand won the race against Italy before the crane accident, and Britain beat the U.S. when their boat lost its foils just before the start.

France defeated the Swiss before Italy rebounded from its loss to Kiwis by beating the French.

The double round-robin series will see all teams competing against each other twice, and determine which four teams advance to the semi-finals which begin in mid-September.

New Zealand won the preliminary regatta last week and threw down the gauntlet for their competitors. (Reporting and editing by Alexander Smith)

(source: Reuters)