Big set-back for Allinghi scum… Larry Ellison‘s BMW-Oracle won a court battle to become the official challenger to America’s Cup sailing champion Alinghi owned by Swiss billionaire Ernesto Bertarelli.

Bertarelli said today in a phone interview that he won’t appeal the court’s ruling, adding “Let’s settle this on the water.” Bertarelli said the sailing event should be delayed until July 2009 because neither team would be ready to sail by this July as suggested by New York State Supreme Court Judge Herman Cahn.

Bertarelli has dishonored the legacy of all Cup winners.