Skipper Russell Coutts and tactician Brad Butterworth defected to the Swiss Alinghi Challenge.

The team were also hit hard by the murder of Sir Peter Blake, New Zealand icon and mastermind of their 1995 and 2000 Cup triumphs, in December 2001.

But Team New Zealand are still the benchmark in modern America's Cup sailing.

And Coutts' understudy Dean Barker has successfully stepped into his shoes after taking charge for the last race in the 5-0 thrashing of Prada in 2000.

Barker is supported by a sailing squad that mixes veterans with talented youngsters.

The design team, meanwhile, is still lead by Cup legend Tom Schnackenberg, who is certain to come up with another super-fast boat.

As defenders, Team NZ will watch the Louis Vuitton Cup from the sidelines, missing out on vital match-race practice.

But they have a further five months to refine their boats before the defence starts in February 2003.

Verdict: Do not write off the Kiwis but this will be a tough defence.