America's Cup 2017: Live updates – Team New Zealand vs Oracle Team USA – Day five

That'll do us for what was a magical morning for New Zealand. Soak it up and enjoy the rest of your day, and be sure to stay tuned to where we will have ongoing coverage throughout the rest of the day.

9:20am - Peter Burling's parents were both elated and relieved after their son became the youngest ever Helmsman to lift the Auld Mug.

Watch them tell Melissa Davies how the seeds for their son's love of yachting were sewn. 

8:57am - Grant Dalton has fired off a verbal barrage at Jimmy Spithill, exacting some payback after the Aussie made his own disparaging remarks towards him in the wake of the Oracle victory back in 2013.

8:31am - Look what showed up in the newsroom this morning. The Royal NZ Yacht Squadron are a trusting bunch.

8:15am - The parade plans are in full swing already, an Auckland City Council representative confirmed on The AM Show. Read more below.

Post-race press conference is now underway in Bermuda.

Team NZ are at the podium

"We're blown away by what we've been able to a Kiwi growing up in NZ and watching NZ win and lose the Cup, and then to come here and bring the trophy home is something I'll remember for the rest of my life,"- Burling

"Bringing such an aggresively-designed package here against all odds and's been immensely satisfying."

"We have done it. Finally." - Dalton

"We knew we couldn't out-spend them, so we had to out-think them. We had to have no restriction on design, we had to see what we could do here and push ourselves." - Dalton

"We knew we had to invest in technology and we had to invest in the people that could provide it...and get our arm around this new generation of yachtsmen that were coming."- Dalton on the aftermath of 2013.

Dalton speaks of a fresh-faced Peter Burling telling him he wanted to be helmsman, to which he repsonded "we've got some water to go under the bridge until then, mate."

A rogue phone goes off as Dalton's speaking, "Ah, that must be Russell" he quips to huge laughter. "Tell him I'll call him back."

Is it going to be possible to do it again on the same budget? Melissa Davies poses the question.

"It's never going to be cheap. The way that Sir Peter Blake put it together after the 1995's a privilege to host the Cup, not a right."

"We do have a plan, and it's going play out in a few days," says Dalton regarding the format of the next Cup. "Rest assured, we'll do the right thing."

"Bermuda has been fantastic....but the America's Cup will ultimately go to New Zealand."

"The foresight that we had to be bold in our design is what's got us here today" - Ashby

"Oracle will out watching us sail everyday, filming and taking in our every move. They were worried from day one with what we were bringing with our design."

Sailors turning down big money offers with other crews, what is it about the team that stops them leaving?

"It's the people...they've absolutely made it possible. I'm very proud to be a part of it...we're living our lifestyle with people you're happy to sit down and have a beer with afterwards." - Ashby

"We sail our boat quite differently...what some people have missed is that when you're peddling you can use your hands as well."

Dalton confirms the team will likely be back in New Zealand by next Wednesday.

"To win events you've got to be able to win races under pressure," says Burling when asked if he was as calm as he'd looked on-board today.

"It's relatively dynamic...we've done a great job analysing the starts and figure out the best way to coniststently win shows how hard we've worked to constantly improve," says Burling of the trunaround in his race starts. 

"I can reassure you we will be celebrating tonight." - Burling

7:25am - Luna Rossa has been confirmed as the Challenger of Record for the next America's Cup, meaning they'll represent the challenging contingent in negotiations with the now defenders Team NZ as to competition structure etc.

Oracle's Jimmy Spithill at the podium

Spithill believes it's been the best America's Cup to date, that Russell Coutts and Larry Ellison are visionaries for staging it as they have in Bermuda.

As for its future, he thinks NZ have earned the right to stage the next Cup however they see fit. 

Spithill admits he thinks more about the America's Cup than he does his own family, before offering a brief apology to his wife. You'd think he'll be back for another go-around.

"A stronger team beat us, it's as simple as that."

"Grant Dalton and I don't see eye-to-eye, but man, what an effort to come back after San Francisco like this."

"Another Aussie skipper just won the America's Cup," he says, referring to the possibility of nationalising the boats for the next Cup.

"I thought we could win if we sailed well and put it all out there...we were pretty impressed with the step up that they took from the qualifiers."

"We had the tools to win, but we couldn't afford to make any mistakes. Clearly those guys have put together a great package."

"They did a better job. They ran an amazing campaign and all we can do at Team USA is tip our hat to them and say well done."

"I've enjoyed every minute of it."

7:02am - Watch the glorious moment Peter Burling raised the America's Cup for the first time below.

6:55am - Is this victory even greater than 1995? Our sailing aficionado Greg Pearson talks of the massive hurdles this team has overcome to bring the Auld Mug back to New Zealand once again.

6:49am - Festivities in Bermuda have wrapped up, but we are going nowhere. Plenty of action and reaction to come from the Great Sound.

Our own Melissa Davies is on site, speaking of the relief in the faces of Peter Burling's parents as Team NZ closed out the decisive win. 

Grant Dalton, understandably so, was feeling hugely vindicated and couldn't wait to get his hands on the Cup.

Meanwhile, Russell Coutts admitted that the best team won, Team NZ were "far superior", and that "all good things must come to an end."

6:42am - Oracle skipper Jimmy Spithill was highly emotional in the moments following the end of his crew's Cup campaign, moved to tears as he came to terms with the moment. Watch the video and read more below.

6:39am - Kiwi sporting royal Dame Valerie Adams offered her own congratulations via Twitter, even if she did get the wrong trophy.

6:36am - Celebrations at the Royal NZ Yacht Squadron, where the Cup will be housed, are also in full swing. Kirstie Stanway captured the moment Team NZ crossed the line.

6:33am - And up goes the Cup itself! Burling and Ashby lift it above their heads in unison as the confetti rains down, each member taking his turn to consume what is sure to be some sweet-tasting champagne. Dalton goes no hands! Impressive stuff.

6:30am - Skipper Glenn Ashby takes the mic, speaking of the faith the team had in themselves and offering gratitude to their legions of fans back in Aotearoa. A huge thanks is also offered to the hosts Bermuda, and an acknowledgement to their Oracle opponents.

"It's nice to share it around," says Ashby. You bet it is.

6:28am - Custom Louis Vuitton bags are awarded to each crew member in a brief and slightly awkward photo opportunity, after which they proceed to toss them into the crowd in a strange sort of bag scramble.

6:26am - Team NZ stand linked shoulder-to-shoulder as David Dallas' 'Runnin' plays over the PA. No Dave Dobbyn?! A sign of the times right there.

6:24am - "Kiwi!" chants break out in the crowd as the Auld Mug is sat atop the podium, the oldest trophy in sports looking as resplendent as ever.

6:22am - Spithill takes the mic. Says Team NZ were "a class above this regatta" and they had simply outsailed them. Kind and gracious words from the Aussie. 

6:21am - Team USA head to the stand first to receive their silver medals, oddly enough to the strains of AC/DC's 'Back in Black'. Someone may have been a bit premature on the controls there.

6:18am - Here we go, the prizegiving is underway.

6:15am - A thick mass of bodies now at the podium waiting for the presentation ceremony.

Young NZ fans celebrate as Team NZ cross the line. Photo credit: Oracle
Young NZ fans celebrate as Team NZ cross the line. Photo credit: Oracle

6:13am - Grant Dalton is beaming, one of New Zealand's favourite sailing sons congratulating the next generation of Kiwi yachting greatness.

6:09am - Team NZ make their way back on-shore now, Spithill and Burling briefly embrace as the Kiwis work their way past a sea of supporters offering congratulations and plenty of kind words, even a fist-bump or three.

6:06am - Oracle CEO Larry Ellison has made his way through his team offering commiseratory handshakes to each and every crew member.

He tells Jimmy Spithill to keep his head up, he's still won two of the last three. It's scant consolation for the Aussie right now, however.

6:03am - Jubilation aboard the Team NZ boat, the emotion was all too much for some. Years of hard work culminating in a 7-1 domination of rivals Oracle.

5:58am - Peter Burling's parents are now on hand, both grinning ear-to-ear. Mum says she's "incredibly proud of Peter and incredibly proud of this entire team."

5:55am - For a more detailed wrap of the series-clinching race click here

5:51am - Skipper Glenn Ashby says it's an "unbelievable feeling", he can't say enough about how special this Team NZ crew is.

The aggression with the design philosophy was one of the keys to their victory, says the Australian. He may just be an honourary Kiwi now.

5:41am - Peter Burling can't say enough about his crew's efforts, almost overwhelmed by the moment.

Contrasting scenes in the American boat as you'd expect, Jimmy Spithill gracious in defeat as he offers the first 'full credit' of the day to his opponents, he's clearly emotional - choking back the tears as he thanked his own crew.

5:39am - Jubilation for the Kiwis as they cross the line and the Champagne is flying thick and fast.

Race nine - Team NZ win the America's Cup 7-1

Final leg - They've done it! The America's Cup is now New Zealand's cup, once again!

Leg six - The lead has blown out to 300m plus now, Spithill looks a concerned man, surely it's time to take a risk? NZ keeping things safe, continuing to cover. Burling may well look to go for the jugular now as they beeline for the final mark, then it's just a short route to the finish line. Can they do it?!

Leg five - The lead has increased to 35 seconds as they split again at the gate, and the Kiwis now look to cover and essentially close out this contest. Lead out to 200m plus, you can sense New Zealand's collective nerves building. NZ made the extra tack early in this leg, Oracle have made some in-roads but they still sit 150m adrift. The cyclists are digging in hard as NZ foil to the next mark, track star Simon Van Velthooven's a long way from the velodrome now. Team NZ head to the gate first but their advantage has certainly diminished, they split again and the lead is officially 24 seconds.

Leg four - Wind back to just over eight knots now, the Kiwis tacking again as they look to cover the American boat. Team NZ reaching 30 knots, a good five better than their adversaries. Up to the mark they come...

Leg three - Winds very light at the moment as both boats slow down significantly upwind, but the Kiwis look to have a slight edge. The gap is just over 100m now. Wind down to 8.8 knots, NZ may look to just cover from here. Oracle tack and pick up a decent gain as the Kiwis hit some dirty wind, but Team NZ accelerate well once they move through the lull, still the quicker boat. To the mark they come and NZ bolt up away through the gate, they have a 26 second lead as the two split again.

Leg two - Both boats gybe, Oracle right at the boundary. Oracle in a tough spot now, the Kiwis have now got over the top of their opponents. Team NZ push to the layline before rounding the mark, they have a five second lead as they split at the gate.

Leg one - Neck and neck as they cross the start line, Oracle looking to have the edge as they sneak ahead at the first mark. Huge for their crew's confidence.

Pre-start - Oracle have port entry for the first race of the morning. Will the Aussie increase the aggression at the start line today? Oracle hanging back behind Team NZ, trying to remove the hook option that worked so well for the Kiwis yesterday.

5:07am - Spithill's counterpart Burling is eager to put the finishing touches on what has been years of hard toil and preparation. You get the sense there could be plenty of 'full credits' to come later this morning.

5:03am - Both boats in the water, the crews bidding their final best wishes for what could be a monumental day.

Spithill confirms the defenders have opted for a lighter win set-up today. If there were ever a time to start rolling the dice, now would be it.

4:54am - We can also confirm that, after Jimmy Spithill's hint that he may step down as helmsman following day four's racing, there will indeed be NO changes to crew for either boat today.

4:52am - Conditions in Bermuda sound ideal again this mroning, winds speed sitting at around 10 knots which sits nicely in Team NZ's wheelhouse.

Hello and welcome to live updates of day five of the America's Cup match between defenders Oracle Team USA and our very own Team New Zealand in Bermuda.

We have two races slated for the morning, with the Kiwis chasing just a solitary win to bring the Auld Mug back to Aotearoa.

We bring you live streaming written commentary, video highlights, and all the action. Video of the racing will be available at the conclusion of the day's action.

America's Cup – day five

Race nine – 5:12am (NZT)

Race ten – 5:57am (NZT)

Pre-race banter

Greg Pearson: Emphatic response from Team New Zealand

For every action there is an equal and opposite reaction, but Emirates Team NZ's response in Bermuda this morning far outweighed yesterday's defeat at the hands of Oracle Team USA.

The Kiwis sailed to a pair of wins over Oracle to move within one race of America's Cup victory.

It wasn't just the fact Team NZ bounced back from their first loss in the cup match; it was the manner in which won. Peter Burling had the better of Jimmy Spithill in the start box of both races - the young helmsman was superb in race seven, while an Oracle error handed them a 14-second lead off the line in race eight.

That race was as good as over by mark three, with the New Zealand boat more than half-a-minute ahead and on the foils for the entire race.

Oracle did close up the first race of the day on the final run - cutting a 40-second lead down to 12 seconds at the gun - but Team NZ kept their composure and never let the defenders stray too far.

Composure was a key word for today. With the events in San Francisco four years ago the topic de jour, the performances today clearly defined the differences not the similarities in the storyline.

Team NZ took some important lessons from that experience in San Francisco and used them as a starting point for this campaign. In a similar way, Burling said they learned from yesterday's loss to be better prepared for today. They may have been surprised by Oracle's imrpoved performance, but the Kiwis reacted accordingly, kept their composure and kept doing what they've been doing. And doing it well. They didn't make the kind of mistakes that cost them the race yesterday, and even with a good advantage Burling says they're still looking for improvement and boat speed.

The only similarity to San Francisco is the position Oracle are in - behind on the scoreboard and facing match point. And that is where it ends.

Spithill is lacking the same confidence he rode to victory four years ago, and is instead being peppered with questions about whether he'll be replaced on the helm. The brash Aussie took to Dean Barker like a pinata in the San Francisco press conferences, but this time is sat next to a laidback figure in Burling, who's forced a rise out of Spithill more often than the Oracle skipper's managed to get one back.

History might be on Spithill's side but confidence and momentum are both favouring Team NZ. They've done everything they can to make sure history doesn't repeat, and today's performance was a clear message that it won't

Greg Pearson is a Newshub producer and sports reporter