Rumours are flying around that the host city for the 32nd America's Cup could be announced as soon as the end of this month and the competition forces the four governments to act to convince AC Management.

In the last straight line, one can undoubtedly estimate that the four retained European venues have a good file and it's now time for financial discussions. The huge sums concerned, coupled with the strict Swiss requirements, have led Governements to enter the Cup Arena.

This morning, the vice-president of the central Spanish Government Rodrigo Rato held a meeting in Valencia with the President of the "Generalitat Valenciana" Francisco Camps and the Mayor of Valencia Rita Barbera to create a consortium which will support and defend the Valencian colors.

"The government is committed to giving legal and financial necessary support", Rodrigo Rato said. "We will provide all the resources necessary to enable Valencia to offer the best facilities for organising this sporting event".

No figure were given but the Valencia project comprises the transformation of the Port's inner Basin - the Balcon al Mar - into the syndicates bases, and the possibility of opening up a channel that gives direct access to the regatta zone is being studdied.

Menawhile, continuing on the transparency way, the community of Naples give all figures and don't hide anything.

"The estimate of the costs made by the ACM is €120 million", the Naples Bid Coordinator Mario Hubler said. "We propose a €50 million contribution in cash to organise the event and the locals authorities will shouldered the building costs".

Moreover, the Italian Government is studying the possibility to create a foreign trade sub-zone for the America's Cup area.

"Part of the infrastructures (bases, offices, pier) will be availability for ACM wich will be free to manage and to benefit, in particular, with the base hiring ", Hubler added. "The remaining part - carpark, shops, restaurants, etc. - will be managed by a public consortium in which ACM could be a partner".

"The 120 million also includes Opening and Closing Ceremony", he concluded. "This is our first proposal which can be readjusted".

The two other candidates are more discrete but the result is likely to be close. Prime Minister Jose-Manuel Durão Barroso of Portugual evoked "important investments" and the French Government will provide €40 million to Marseille.

"We must now move to the next stage, which is one of contractual negotiation", said Michel Bonnefous when AC Management retained fourt European venues. "Over the coming weeks, we will be concentrating on negotiations with these four cities, handling the more precise details for hosting the 32nd America's Cup at contractual level".

Just three days after the selection, the four candidates were provided with a contract which must be returned within twelve days to Geneva. This phase is now finished and it's now time to begin work on the detailed negociations beetween AC Management and the cities.

On Wednesday, a Swiss delegation headed by the financial director of ACM, Simon Myers, was received at the Italian Aeronautical Academy of Pozzuoli, near Naples.

The Italian high level delegation led by Leonardo Tricarico and Giampaolo Scarante, two Italian premier's advisers (for defense and diplomacy), was composed of the representatives of all Italian authority.

In the course of talks, the parties to the meeting discussed possible ways of mutually agreement. The contract AC Management has received last week from Naples is just a draft and needs to be fine-tuned by both parties.

Now, bilateral workshop beetween experts are planned to examine issues in more detail (quality of the infrastructures and logistics facilities, tax and legal, financial commitments, advertising, marketing...).