A New York State Supreme Court judge ruled at the end of October that Ras al-Khaimah in the United Arab Emirates could not host the event based on an 1887 Deed of Gift that stipulates the race cannot be sailed in the Northern Hemisphere between November 1 and May 1.
The Swiss-based Alinghi team launched an appeal and also put forward the suggestion of the east coast of Australia as host. Alinghi has now said they will accept Valencia but the offer of an Australian venue "remains on the table".
Oracle said it was "very pleased to see that Alinghi has finally agreed with us that Valencia in February is the correct venue to hold the 33rd America's Cup".
The Société Nautique de Genève (SNG), representing defending champions Alinghi, expressed its intention to publish the 33rd America's Cup Notice of Race with immediate effect.
