Oracle BMW Racing was now Challenger of Record for 2007. Alinghi owner Ernesto Bertarelli and his counterpart Larry Ellison had a common vision. The America's Cup is to be a modern, global sports event for the general public and interesting for sponsors. The jointly developed regulations are to lay the foundations. The team also continued to develop. In the summer of 2004, the partnership with BMW was renewed and the team was renamed to BMW Oracle Racing, since BMW was no longer just a sponsor, but now also contributed to technical and marketing contributions. Skipper Chris Dickson , who once again set up a strong international team, was responsible for managing the 2007 campaign .