America's Cup for 2009 Valencia

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Valencia affirms Pole Position as the Med's No 1 Marina with the Retention of the America's Cup for 2009

Added: (July 26 2007)

Valencia reasserted its dominance of all things yachting in the Med with the announcement yesterday in Valencia that the 33rd edition of the America's Cup which is the world's oldest trophy will triumphantly return to Valencia in 2009. The contract for the event will be signed in September with the town hall, federal and provincial governments paying €110 million to stage the event apart from the costs that each of the three bodies will accrue in global marketing campaigns. The 32nd edition saw Valencia receive 6 million visitors to its revitalized marina and over 4 billion tv viewers. The payment to stage the event will be split 40:40:20 between the federal/ local governments and the Valencian town hall.

The principal reason that is being cited by the yachting cognoscenti for the return of the America's Cup to the city is her excellent port facilities. Over €500 million was invested in the marina and port area in preparation for the 32nd edition of the America's Cup. Mr. Ernesto Bertarelli the Swiss billionaire owner of the winning boat Alinghi expressed his feelings for his home away from home, Valencia as follows :

"Valencia is a fantastic headquarters and it has the infrastructural advantage.The key has been my personal relationships with Spain, the Valencian community and Valencia as well as having the necessary confidence to achieve success.Valencia has been chosen again because it surpassed all our expectations in the previous edition".

The port will see a further injection of €50 million in preparation for the next editon of the cup in 2009. A new builidng will be built at the mouth of the port to manage the newly built morrings and related services. Additional faciliities for a possible 2 extra competitors will also be put in place. In total 12 teams competed in the 32nd edition of the cup with 5 teams already signed up for the next edition namely : Alinghi which is the reigning champion, Desafio Español, Shosholoza from the Royal Cape Yacht Club South Africa, Team New Zealand and a new entrant TeamOrigin from the Royal Thames Yacht Club England.

The city's Mayoress Ms. Rita Barbera was in jubilant mood at yesterday's press conference called to announce Valencia as the host city for the 33rd edition of the America's Cup. She jovially cajoled the assembled press, dignataries and V.I.P.s and even had the confidence to ask Mr. Bertarelli for one of this year's winning Alinghi yachts as a monument for the port. Mr. Bertarelli graciously replied that her wish would come true once the pre regattas for the 33rd edition of the America's Cup have taken place.

A visibly emotional mayoress expreesed her feelings for Valencia and what the America's Cup has meant and means for the vibrant city that is Valencia : "Valencia has won the America's Cup, a new neighbourhood(El Grao) and has been opened up to the sea , something that had been on the agenda for a considerable time. Valencia today is the most alive urban port in the Mediterranean".

A fitting tribute to the city and everyone involved in the breathtaking metamorphosis that the city has undergone over the past 20 years or so.The return of the America's Cup together with the arrival next year of Formula 1 which will career through the streets of Valencia and over the marina via a drawbridge specially placed for the event is excellent news for all property owners in the city especially those who have property in the city's prime areas. 2009 will see the staging of the America's Cup in June and F 1 in July with the sharing of facilities at the Juan Carlos 1st Marina and Port of Valencia. World Class Events in a Truly Spectacular International City right on the Med : who could ask for more?Article by Dermot Quinn, Valencia Property Hound Ltd