‘The Valencian Government has just issued a press statement to the effect that it now considers itself free of any contractual obligations with America’s Cup Management (ACM) in the light of the New Your Appeal Court finding.
‘The statement adds that the contract that was signed between the Town Hall, the Valencian Government and ACM envisages this possibility and therefore with this contract we have guaranteed that in the case of a finding that went against Alinghi, the interests of the Valencian Community would be protected.
‘However Major Project coordinator Jose Luis Villanueva stated that whilst the Valencian government had protected the interests of the Community, it was still hoped that the pre-regattas would be staged in Valencia.’ …Â Details