The foiling monohull glided across the water at a rate of knots, with reports saying the boat reached speeds of 20knots in 12 knots of wind, and upwind at 20knots in their trial run.

Ainslie's team is backed by INEOS, a petrochemicals company owned by Britain's second-richest man James Ratcliffe, who is ranked 78th on Forbes' rich list.

The British syndicate is one of three potential challengers to Team New Zealand so far, the others being Luna Rossa (Italy) and American Magic (USA).

Team New Zealand won't release their first prototype until April next year.

The Auckland event will involve the foiling monohulls as opposed to the catamarans used in the last two Cups.

Newshub.