Valencia: Once bitten, Twice shy

The rights to host the 37th America’s Cup is being shopped by Team New Zealand after the value assessed by Auckland was less than the team had hoped. It is understood the defender has received interest from Cork, Ireland; Cowes, UK; Doha, Qatar; Dubai, UAE; Jeddah, Saudi Arabia; Oman; Singapore; and Valencia, Spain.

The interest from Valencia, which hosted the racing in 2007 and 2010, comes from a private sector working group which includes the Real Club Náutico de Valencia, with the entity viewing the event as an opportunity to stimulate its economic recovery which has suffered due to the COVID-19 pandemic.

However, Valencia Mayor Joan Ribo appears cool over a bid to host the next America’s Cup, pointing out the city still owes $20m from staging the 2007 version. While the working party is hoping to tap into Spain’s $29b share of a Next Generation EU fund, designed to help European countries from the pandemic, Ribo is not eager to dig a deeper hole.

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