Team New Zealand, who lost the America's Cup match against Alinghi this month, have challenged the Swiss syndicate for another chance to win back sailing's most prestigious prize.

Alinghi president Ernesto Bertarelli announced his yacht club SNG had accepted the challenge from the Kiwis, who thrilled sailing fans this year in the closest America's Cup match in at least two decades.

Team New Zealand eventually lost 5-2, the second time in a row they have lost the "Auld Mug" to Alinghi. They won the America's Cup in 1995 and 2000.

"We welcome Team New Zealand back to this event. Alinghi are looking forward to racing them again," Bertarelli told a news conference.

Team New Zealand are the fourth team to be accepted as challengers by Alinghi for the 33rd America's Cup, which will be raced in Valencia in 2009.