Since last October, when Valencia won the competition to host the world's most prestigious yachting event, there has been joy, sorrow and much confusion surrounding the event.

The joy was nowhere more evident than with the mayoress of the City, Rita Barbera, of the Partido Popular party. Then PM Jose Aznar was also pleased for the city and sent members of his government to Valencia bearing offers of great financial support.

However, on March 11 2004, bombings in Madrid brought the socialists into power and the new Aznar's replacement, Jose Luis Rodriquez Zapatero, seemed less keen on the elite yachting event.

The change in government threw into doubt the legitimacy of the Valencia 2007 Consortium that had been formed to oversee the infrastructure for the America's Cup. The Consortium consisted of Jose Salinas, executive director and Mayoress Barbera as president. Four people from the Valencia government, four from the Aznar government and two from the Valencia Town Hall formed the Consortium Committee.

Rumours have been circulating that the Zapatero government intends to move the America's Cup to Barcelona where he has strong political following. There are also rumours that money earmarked for a grant to Valencia for infrastructure.

Peter Rusch, spokesman for America's Cup management, stated emphatically that the rumours are only rumours and that the host city of the 32nd America's Cup is Valencia. He also emphasized that the work at America's Cup Valencia Port is about to start.

A project for the raising of Valencia Port Inner Dock Customs Breakwater, submitted by building firm Cyes with a Euro 5,121,669.32 budget has just been approved. If this goes ahead it will mark the beginning of a series of planned works to adapt Valencia Port to the requirements of the 32nd America's Cup Competition.

A total of 12 proposals had been submitted for these works, which consist of the re-structuring of 230 metres of dock length including all the necessary facilities for the hosting of the America's Cup pre-regattas to be held in Valencia next October. The work also includes the building of a pile-based platform and the infrastructure for the installation of two 50-tonne travel lifts.

Nine floating jetties of different sizes will also be built for use by America's Cup class yachts and other support vessels. It remains to be seen if these projects will be completed in time for Acts 2 and 3, which are scheduled to be held in October.