The reputable Spanish newspaper, El Mundo is reporting that it has information saying that at least eight America's Cup teams have joined together in a joint formal communication.

The letter requests America's Cup Management and Société Nautique de Geneve (SNG) to dissolve the Protocol agreement with the Spanish Challenger and to make a new Protocol where all teams agree on the terms for the 33rd match for the America's Cup.

It is not known what the outcome will be if the request from the eight Teams is not met. According to some analysts, the only way out of the impasse seems to be for CNEV/Desafio Espanol to withdraw amd for SNG to accept the challenge from Golden Gate YC, and negotiate with GGYC as Challenger of Record and the eight Teams.

It's also understood that ACM is close to reaching agreement with Valencia to be the host venue for the next America's Cup. However this is yet to be confirmed, but if so would set the scene for a 2009 Match.