GBR Challenge are back on the water and their America's Cup future is still afloat despite a disappointing quarter-final elimination by Team Dennis Conner in the challenger series.

Team tactician Adrian Stead told BBC Sport Online that "a lot of positives" had come out of Britain's first Cup campaign for 15 years.

And, although GBR finished only seventh of nine boats in the Louis Vuitton Cup, he expects the bid to bounce back strongly when the event is next held in three or four years.

We need to buy in designers and information in order to cut years off the development process Adrian Stead

"The short-term plan is that we'll sail in Auckland for the next three weeks, evaluating our two boats and, in particular Wight Magic, which we never got to race," said Stead.

"Then we'll pack up here, ship everything back to Cowes and go from there.

"Syndicate boss Peter Harrison has indicated that he wants to keep GBR Challenge going, so we'll spend a lot of time debriefing.

"We'll find out what we did well and what we could have done better.

"And we'll make sure that we make the most of all the knowledge that we've gleaned from this event."

Harrison must now buy in information

Stead admits that the team will now break up to an extent.

"It's unliklely that we'll all keep working beyond Christmas. It's up to GBR if they want to rehire certain people.

"Some may be looked at by other syndicates and some may choose to do other things. We'll have to wait and see."

But the experienced tactician strongly believes that it is worth mounting another America's Cup Challenge.

"We've done our learning curve to get back in the game and now we need to sit down and discuss what needs to be done to take it to another level.

If the Kiwis keep the America's Cup, I imagine we'd be looking at the next event being staged in Auckland in three years time Adrian Stead

"We need to be prepared to buy in designers and information in order to cut years off the development process."

Stead knows that knowledge comes at a high price, as evidenced by the high-profile signing of skipper Russell Coutts to Swiss bid Alinghi.

"We've spent about �22m this time and Alinghi have spent almost three times that. But they have greatly increased their odds of success."

Whatever decisions Harrison now takes for GBR Challenge, he knows that his next chance to win the Auld Mug is a long way off.

"If the Kiwis keep the America's Cup, I imagine we'd be looking at the next event being staged in Auckland in three years time," said Stead.

"But if victory goes to Alinghi or Oracle - who I rate as their biggest challengers - timing is up to them.

"It may take four years and the event would be staged in the Mediterranean (Alinghi) or off the California coast (Oracle).

"We won't know until the end of February."