According to the latest news reported in Spain, Valencia could be forced to share "its" event.

Ricard Pérez Casado, the Government-appointed Commissioner for the Americas Cup, speaked about a new "cooperation beetween Valencia and Palma for the 32nd America's Cup.

"At this point, we want to analyse what we can do together", explained the former socialist mayor of Valencia (between 1979 and 1988). "It may be a kind of 'cooperative competion' that can be based on the geographical and historical proximity between the two cities".

If Jaume Matas, President of the Balearic Islands Autonomous Government, is obviously delighted about the idea, the Valencian point of view is totally different.

Esteban Gonzalez Pons, the Official Spokesman for the Valencian Government stated yesterday that he had sent Prime Minister Jose Luis Rodriguez Zapatero a letter demanding to know why actions for the Cup were undertaked without the knowledge or consent of either the Consell of the Valencian Government or Valencia Town Hall.

Meanwhile, Valencia Mayoress Rita Barbera stated that under the terms of the contract with Americas Cup Management, any regatta for the Cup that is staged outside Valencia in 2006 or 2007 is illegal.

As if to pour oil on the troubled waters, Michel Bonnefous, the Chairman of the Management organization stated yesterday that "it may be possible" to stage an 'exhibition regatta' off the Balearic Islands