American Magic chief executive Terry Hutchinson's staying anchored over the prospect of a lifeline being given to another US America's Cup syndicate

Stars and Stripes are yet to launch a boat, with the perception left that the challenge exists in name only.

Reports claim they'd gone to the independent arbitration panel to get permission to take over Team New Zealand's first boat Te Aihe for the Prada Cup.

To do that, they'll need to force a rule change that says a boat's hull and other components must be built in a syndicate's country of origin.

They must also convince the other challengers, but Hutchinson's struck the verbal doldrums.