KEY POINTS:
British yachting journalist Bob Fisher says America's Cup Management has wrecked the sport he loves.
Fisher has reported on every America's Cup since 1967, and says this challenger series is by far the worst he has covered.
Racing was abandoned again on Monday night because there was insufficient wind.
Only three of 22 flights of racing in the round robin competition have been completed.
In eight days, there have been only one and a half days of racing.
And the forecast for the rest of the week is is not looking promising.
Valencia was chosen ahead of three other cities to host the America's Cup mainly because of its "reliable breeze".
America's Cup Management chief executive Michel Bonnefous stands by the decision to chose the Spanish city to host the event.
He said weather information his organisation obtained showed Valencia was the best place.
But Fisher is sceptical and suggests another reason.
"The only reason the Cup is here is because they got more money than they did from Cascais [Portugal]," he said.
"The weather had nothing to do with that choice. The weather stats I saw showed Cascais had better weather than anyone by a long way. Valencia didn't even come second.
"It's greed, greed, greed."
Fisher believes it was a mistake to let America's Cup Management run the Louis Vuitton Cup challenger series and the America's Cup regatta.
America's Cup Management was set up by Alinghi to run both events. But rather than being independent, the body is headed by Bonnefous and Michel Hodara, who headed Alinghi in the last cup.
"The fact that the whole thing, both the challenger series and the Cup, is organised by the same organisation is nothing short of a disaster," Fisher said.
"It means that the defenders are running the series, and this is a challenger-driven series - or at least that is how George Schuyler saw it when they put down the deed of gift in 1887.
"Now they have put in all of these protocols which have changed it so it bears no relationship to what it was even 10 years ago."
Fisher said the America's Cup should be promoting sailing.
Instead, "It is making the sport a laughing stock".
* Team New Zealand were scheduled to race Areva Challenge and Desafio Espanol overnight.
If those races took place, they will line up against Team Shosholza and United Internet Team Germany tonight.