British Olympic champion Andrew 'Bart' Simpson, who won a gold medal at the 2008 Beijing games, died on Thursday when his yacht capsized off the California coast during training for the America's Cup race, his racing team said in a statement.

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Simpson had been sailing on the Artemis, Sweden's entry in the America's Cup, when the catamaran capsized, according to a statement for the team posted on the Artemis racing website.

"The entire Artemis Racing team is devastated by what happened," said CEO Paul Cayard. "Our heartfelt condolences are with Andrew's wife and family."

(Reporting by Ronnie Cohen; Writing by Cynthia Johnston; Editing by Dan Whitcomb)