KEY POINTS:
America's Cup organisers said they would name the venue for the next regatta by end of the year.
America's Cup Management head Michel Bonnefous said the next event, which would feature a new class of boat, would be held in 2009 if Valencia was retained.
If it was staged elsewhere, it would take place in 2010 or 2011.
The challenger of record, representing the syndicates who will challenge for the cup next time around, was named as Spain's Club Nautico Espanol de Vela. Bonnefous also said teams might be restricted to one boat.
