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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. 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 Americas Cup Class (Version 5) boats.

 Challenges for the 33rd America's Cup have been accepted from four yacht clubs to date, the first one being the Spanish Challenger of Record, Club Nᵴico Espande Vela, represented by Desafío Español This was followed last week by another veteran from the 32nd campaign, the South African Team Shosholoza, representing the Royal Cape Yacht Club, and early this week by the British newcomer TEAMORIGIN, flying the flag of the Royal Thames Yacht Club. Today, the latest challenger to be accepted is the Royal New Zealand Yacht Squadron and Team New Zealand.

 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.

It was also announced today that the Class Rule, the technical definition of the boats for the 33rd America's Cup, will be published on October 31st. The Competition Rules, with the precise format of the different racing phases, and the Event Regulations will also be published on October 31st.

Michel Bonnefous, CEO of America's Cup Management (ACM), said: "We are glad to announce today the cornerstones of the 33rd America's Cup, which should extend the positive trend for the event that was launched with the 32nd edition. As the Event Authority, we have now secured a venue that has already proved to be ideal and we hope to have set the elements to facilitate a close competition."

"We are heartened by the challenges of Desafío Español Team Shosholoza, TeamOrigin and Team New Zealand and we welcome more challenges from both new teams and experienced teams. We will continue to work hard over the next few months to recreate an outstanding platform for the public, the media and the sponsors. The 32nd America's Cup saw more than 6 million members of the public visit the racing venues and over 4 billion enjoyed the television coverage of the racing. We are looking forward to building on this in the future."

 Francisco Camps, President of the Generalitat Valenciana, commented: "Our commitment is to making this event the best that it can be. We know that Valencia is under the spotlight and this is a great responsibility we are taking. With this kind of event, our country gains recognition and takes a step forward in the eyes of millions of people."

Elena Salgado, Minister of Public Administrations, said: "There is no doubt that the participation of Desafío Español turned the last America's Cup into a great event for Spain. They have helped to create a passion for this sport in Spain. We fully support Desafío Español and, with the permission of Ernesto Bertarelli, hope they will win!"

Rita Barbera, Mayoress of Valencia, said: "As the President of the Consortium that has worked with ACM to make the 32nd America's Cup the best ever, I would like to invite Larry Ellison and his team to withdraw his legal action and come back to Valencia and join us. We would welcome him with open arms to join all the other challengers in the 33rd America's Cup."