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America's Cup Rivals Agree Terms To Valencia Race

by Mike Godfrey, Tax-News.com, Washington

18 December 2009


The next America’s Cup is to be hosted in Valencia following a legal challenge by BMW Oracle, upheld by the Supreme Court of the State of New York on December 15.

The 2007 winners, Swiss team Alinghi, had proposed holding it at the port of Ras al-Khaimah in the United Arab Emirates, igniting a legal battle between Alinghi and the Golden Gate Yacht Club (GGYC), on behalf of BMW Oracle, in a Breach of Fiduciary Duty complaint on October 27. The GGYC alleged that the venue contravened the provisions of the Deed of Gift, which lays down rules including the selection of a venue by the defending champion.

The two teams have also agreed that the race should be held over five to seven legs rather than three, as previously planned. The 33rd America’s Cup Match is scheduled for February 8, 2010.

The BMW Oracle team has announced that it has already shipped its new vessel, a trimaran BOR 90, to Valencia in preparation.

In a statement, BMW Oracle skipper Russell Coutts said: “This America's Cup has been an extreme test of our experience and imagination. We did not know the venue, or the expected weather conditions, so the initial concept had to cover a large performance space."

According to Coutts, significant modifications have been made to the vessel since it last sailed in San Diego. He said the new and improved vessel would be over 20% faster due to a new wing sail: "The wing sail is the biggest single transformation of a boat I have ever seen," he said. "It has turned a great boat into something spectacular."


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