In a final twist to one of the most dramatic races in Americas Cup history, Italy's Prada Challenge yesterday discovered that their long-cherished dream now rests with their rival AmericaOne - skippered by Italian-American Paul Cayard.

Just hours previously on New Zealand's Hauraki Gulf, AmericaOne and Prada had duelled in exciting spinnaker drag racing, flavoured with ugly bullying, which ended with Cayard's boat crossing the line eight seconds in front of Prada, skippered by Francesco de Angelis.

With just two more races to go Cayard has virtually qualified for the two-boat challenger finals, even if he does not race - and if he does not race he would knock Prada out.

This would let either Nippon Challenge or Dennis Conners Stars and Stripes in.

At a packed press conference in Auckland, Cayard was cagey about what he would do.

"I really havent thought about it that much, there is a lot of conjecture about if we are going to sail, if we put the boat in the water," Cayard said. "We are still not qualified, I don't think, so we are going to be racing hard, for sure, until we are qualified. If there are any decisions to be made it's down the road a little."

Asked if he thought Cayard would "do his best" in the next two races, De Angelis replied: "Before in round-robin three I would have said yes right away, (now) time will tell."

Underscoring the tense nature of the situation is the fact that yesterday's marvellous race was being compared with a dramatic 1992 duel when Italy's Il More di Venezia narrowly defeated America3 in San Diego. Cayard, who now may ruin Italian hopes, was then skipper of Ill Moro.

Six syndicates from four countries are in the last couple of races of the semi-finals of the Louis Vuitton Cup, trying to determine the last two boats for the finals. The eventual winner goes on to challenge Team New Zealand for the Americas Cup next month.

AmericaOne and Prada started yesterday's race on split tacks but the advantage soon built for Cayard and by the third leg he had a 58-second lead.

He made the error of relaxing, and de Angelis, a quiet emotionless man, just worked his way back into the race.

Mark five is the last mark before the three nautical mile (5.6 km) downwind leg to the finish line. Cayard had a narrow lead coming up to the mark but de Angelis nibbled at his stern and then suddenly came in under him. He squeezed up between AmericaOne and the mark and because the Italians had the starboard tack, they had the right-of-way.

Cayard had to bear off and the Italians rolled him, taking a six-second lead around the mark.

Because of the wind direction all de Angelis had was a fetch or straight line home. Cayard, coming up behind him, could claim the right-of-way only if he had an over-lap.

Equally, de Angelis did not have to yield if he could convince Australian umpire John Stanley, following closely behind in a speedboat, that he was on the true course.

At this point Cayard and tactician John Kostecki engaged in vigorous protest flag waving and strong language directed at Stanley. Later Stanley said the abuse was "only noise" and made no difference to his decisions which were to change the race.

De Angelis, a fluent English speaker, asked what he thought of the swearing, replied diplomatically: "I think . . . I don't understand the English a lot, first. Then, they don't understand Italian either."

Stanley finally played a key hand when he penalised Prada.

He said AmericaOne's spinnaker overlapped Prada and AmericaOne, at no time, ever sailed above her proper course.

"The rules say the windward boat shall keep clear and the windward boat, as soon as they were overlapped, was Prada."