AMERICA’S CUP / DAILY REPORT : CHALLENGER TRIALS : New Zealand Holds Off France by Eight Seconds

Front-running New Zealand, its red gennaker hanging in shreds, held on by the last gasp of air Saturday to beat France’s onrushing Ville de Paris by eight seconds--about a boat length--in the closest of 65 America’s Cup races in the last five weeks.

Another boat length past the finish line, Ville de Paris was in front.

And Il Moro di Venezia, slowed by kelp on its keel as Espana ’92 closed in, twice sent grinder Andrea Madafarri diving under the boat. As skipper Paul Cayard luffed into the wind at 3 knots of speed, Madafarri swam underneath from bow to stern, pulling off weeds, climbed up the transom, ran to the front and did it again.

Sweden’s Tre Kronor, scoring its first victory other than a first-round forfeit from winless Challenge Australia, broke open a close race to beat the Aussies by 6:59.

In light, shifty and unpredictable zephyrs of 4 to 8 knots, the Aussies took 3 hours 52 minutes 10 seconds to crawl around the course. Hugh Treharne, navigator on victorious Australia II in 1983, replaced Phil Thompson at the helm, but it made no difference.

The time topped the record of 3:46:35 set by Espana ’92 a few minutes earlier in losing to Il Moro by 13:58--the most lopsided race so far.