The New York Supreme Court has ruled that the 33rd America’s Cup should be raced in 2009, not earlier as argued by Golden Gate Yacht Club represented by Larry Ellison’s BMW Oracle team.

This makes it likelier that the regatta will return to Valencia, that is if the city can afford the sponsorship fee, reported to be in the region of 50 million Euros.

If the world famous regatta does return to the city of Valencia in 2009, it will give a much needed boost to property prices and rents in the city.

Property prices in the city experienced an America’s Cup ‘bounce’ when the defending champion Alinghi announced at the end of 2003 that Valencia would be the host city.