Reported to look like a ' spider ' due to its lightweight and seemingly fragile appearance , the new boat is believed to be based on the design of LeBlack , the lightweight 41 ft catamaran owned by Alinghi boss Ernesto Bertarelli , who bankrolled Alinghi 's victory in the 2007 America 's Cup and who has been funding its defence , including the protracted legal wranglings which have ruled out a multi-challenger event in favour of a head to head between Alinghi and bitter rivals BMW Oracle early next year .