Valencia, on Spain's eastern coast, has been selected over three other European candidates (Lisbon, Marseille and Naples) to be the 2007 America's Cup venue, becoming the first European venue since 1851 for sailing's oldest tournament.

Valencia, which was chosen for its tourism infrastructure and because steady summer breezes guarantee start times for the 32nd edition of the race, was transformated in record time for the event and gave a Cup which was considered by many as "the best ever".

"Our vision is to make a bigger event, to run over a longer period allowing the partners to get a better, earlier and more regular return for their investments", explained Michel Bonnefous, the CEO of AC Management.

Despite attacks by the traditionalists, the Swiss team Alinghi has been working to dust off some of the event's old-fashioned pretension, gradually modernizing and commercializing the regatta ever since it brought the Cup back to Europe in 2003.

The "Terms of Challenge" included a 13 Pre-Regatta programme, known as "Louis Vuitton Acts", that deliver immediate exposure in a variety of geographic locations from September 2004.

On April 8th, 2004, no less than 26 applicants will be in the "Palau de Congresos" of Valencia for the first meeting of interested teams for the 32nd Defense.

As the deadline (of 1600 Friday 29 April, 2005), with 11 challengers representing nine countries, this is not just one of the biggest, but it is by far the most diverse America's Cup in history with three countries participating for the first time.

After the highly controversial 28st America's Cup, five America’s Cup Regattas were sailed in America’s Cup Class yachts, which were specifically developed for use in America's Cup competition by a small group of designers.

At the very beginning, 28 boats were built for the 1992 Cup. At the end of the 32nd Edition and after five cycles, the number had reached 101 (in fact, 100 boats were built as sail number 13 was never assigned) but many designers and others have been calling for changes to keep the America’s Cup at the forefront of yachting technology and the 32nd America's Cup was the last incarnation of the ACC boats.