The Challenger Commission for the 32nd America's Cup ("CC") met at the call of Chairman George Clyde by telephone conference on 26 May.

Representatives of all eleven Challengers were present on the call or had given their proxy to the Chairman and pre-voted by email.

CSS Working Party chairman Tom Ehman confirmed that ACM had now stated in writing their willingness to sign the plan. SNG and GGYC have also agreed to sign, thereby consenting to make any necessary Protocol amendments to effect the Plan.

After a brief discussion of the history of the Working Party's negotiations and the merits of the Plan, a resolution to approve the Plan passed with eight of the eleven Challengers voting in favor; three were opposed because of various reservations regarding the Plan.

The Chairman asked that the Challengers keep the terms of the Plan confidential until a joint announcement could be made with ACM early next week [now set for Tuesday 31 May in Valencia].