Young Australia announced Friday they have leased a boat to replace the 1995 yacht they sailed in the first round-robin to nine losses in 10 starts.

The new boat is the sibling of One Australia, which sank off San Diego during the last America's Cup challenge in 1995. But the boat is the only one to have defeated Team New Zealand, which swept the challenger series and the 1995 America's Cup.

A Louis Vuitton Cup challenger series arbitration panel Friday gave Young Australia approval to switch boats, but has given the other syndicates until the end of round-robin 2 to protest.

Under challenger series rules, Young Australia can lease the boat because it is Australian-built and has been certified as meeting America's Cup specifications.

If a protest is lodged and upheld, the boat can be thrown out of racing before round-robin 3. Officials said Young Australia would keep any points won if this occurred.

Young Australia skipper James Spithill said his crew was pleased with the new boat.

"We're really excited and I think we're all going to have trouble sleeping until our first race," Spithill said.

Eleven syndicates are competing in the challenger series to decide who takes on New Zealand in the America's Cup regatta starting in February.

Wins in the second round-robin are worth four points each compared to the first round-robin's one point, so competition is expected to be heightened.

Each win in a third round-robin is worth nine points before the best six boats meet in a final series scheduled for January.

Italy's Prada syndicate was the only unbeaten boat in the first round-robin.

All boats except the Swiss entry Fast 2000 have had to be remeasured by officials after undergoing changes. Skippers declined to say exactly what was altered.