The Challenger Commission for the 32nd America's Cup ("CC") met in Valencia, 10-11 May, hosted in part by Louis Vuitton and the Holiday Inn Valencia.

During the meeting, the Challenger Selection Series working party of John Cutler (Desafio Espanol), Tom Ehman (BMW Oracle), Bruno Finzi (Luna Rossa) and Dawn Riley (K-Challenge) reported on fruitful discussions with ACM officials Michel Bonnefous, Dyer Jones and Marcus Hutchinson to reconcile the CC’s “San Francisco Plan” with ACM’s bonus points ideas.

A new plan, known now as the “Valencia Plan,” had been negotiated. It is similar to the San Francisco plan in structure and schedule, but includes a range of bonus points to be carried into the rounds robin by all Challengers based on the overall results of the Acts.

A handshake agreement had been reached on the Valencia Plan with ACM. Pending further consultations by ACM with SNG and the Defender, and approval by the full Challenger Commission, it was hoped that formal agreement and an announcement of the Valencia Plan would be achieved shortly.

The Challenger Commission approved the Valencia Plan on a vote of 8-2, and await a decision from ACM.