Today in Valencia, the Swiss have made public most of the details for the 33rd America's Cup.

Following a new agreement with the Spanish state, the Valencia Regional Government and the Valencia Municipality, the Host City for the 33rd America's Cup will be Valencia. Spanish daily El Mundo reported on Tuesday that Valencia had agreed to pay around 105 million euros to stage the event, 15 million more than they paid for the 2007 race.

The event will take place in 2009, between May and July, with two pre-regattas to be held in 2008. One of them will be in Valencia in July and the other one in another European country in the autumn. They will be raced on the existing America´s Cup Class (Version 5) boats.

It was also announced today that the technical definition of the boats for the 33rd America's Cup would be published on October 31st. Under ACM jurisdiction, consultation would take place with all challengers during September 2007 to define the boat's specification.

Teams will be allowed to build 2 vessels, but never to allow more than one on the water. Challengers will not line up on the water against any similar vessel until the challenger series. The rule applies equally to Alinghi, therefore Alinghi must meet competitors in the Challenger series, but would not proceed through to the challenger series final, and if beaten, they would lose their right to compete in further challenger matches.

It was announced that the Competition Rules, with the precise format of the different racing phases, and the Event Regulations will also be published on October 31st.

Finally, the challenge period will remain open until further notice and the Notice of Entry, which must be completed by prospective challengers, is posted and available on www.americascup.com.