America's Cup holders Alinghi have given up trying to stage next February's race against challengers BMW Oracle outside Spain and have accepted Valencia as the venue.
Alinghi, who sail under the colours of Societé Nautique de Geneve (SNG), first wanted to hold the race at Ras Al Khaimah in the United Arab Emirates.
But this was rejected by a New York court, which said it had to be held in Valencia or the southern hemisphere.
SNG then offered Australia as an alternative before finally agreeing to Valencia, as requested by BMW Oracle, which sails under the Golden Gate Yacht Club (GGYC) colours.
The two sides have been locked in a legal dispute for more than two years over the terms of the race.
"The America's Cup Defender, Societé Nautique de Geneve (SNG), has confirmed that it will conduct a Deed of Gift Match with GGYC in February 2010 in Valencia, which is the date and venue repeatedly requested by GGYC and previously ordered by the court," SNG said in a statement.
"SNG has also expressed its intention to publish the 33rd America's Cup Notice of Race with immediate effect.
"While SNG confirms Valencia as the venue for the 33rd America's Cup in February 2010, the offer to GGYC of an Australian venue for the same date remains on the table until November 13, 2009, provided GGYC agrees to withdraw all legal actions."
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Gareth Morgan wades into Awaroa beach
- Housing NZ directors get 63% pay hike
- Showdown at the ETS corral - part one
- PayPal ‘on shaky ground’ as it pulls service from second Netflix unblocker popular with Kiwis
- Auckland Council, James Hardie appeal ruling on leaky building claim made beyond 10-year limit
Most listened to
- Green party co-leader James Shaw and Business NZ's John Carnegie go head-to-head on the ETS review
- Cream Trading CEO Kevin O'Sullivan on why dairy companies might want to sign up to the new trading platform
- Paul Brislen on the merits of "cutting off the money" versus Netflix' technical attempts to shut-out unblockers
- Westpac's Dominick Stephens says dairy prices are still a major concern, despite El Niño fears fading
- London School of Economics Professor John Kay discusses financial regulatory shortcomings