New Zealand, the America's Cup defenders, said that a crane failed when lifting their AC75 out of water following racing in Barcelona. However, all team members are safe.

Onshore, the incident occurred as the competition began for the oldest sporting trophy in the world -- the "Auld Mug" -- in the Mediterranean City in the East of Spain. The event brought together some of the most famous sailors in the world.

The crane that was used to lift the AC75 onto its cradle failed and the boat landed hard. Team New Zealand confirmed that all team members were safe.

In a social media statement, they said that "the extent of the damages will be assessed as quickly as possible."

After racing, the America's Cup AC75 race boats are lifted ashore and placed on cradles that protect their foils and rudders.

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's victory in a pre-event regatta last week was a challenge to the other competitors. (Reporting and editing by Alexander Smith)

(source: Reuters)