As a consequence of the uncertainty and the delays arising from the Golden Gate Yacht Club Law suit in New York, AC Management (ACM) is concerned that the feasibility of organising the next America's Cup in Valencia in 2009 has been effectively compromised.

ACM will in the coming days engage in consultations with the Defender, the Challenger of Record, the Competitors and the Spanish Authorities on this specific matter.

ACM is considering all options, including the possibility of postponing the event to a later date. In the meantime, ACM understands that SNG continues to try to find a resolution of the dispute pending with Golden Gate Yacht Club in New York.