The contract between ACM, the administrators of the 33rd edition of the Americas Cup and the city of Valencia has been terminated thanks to clause 4.5, previously not made public, which allowed the parties to break all contractural bonds in the case that GGYC won the pending court case.
The contract, signed by mayoress of Valencia, Rita Barber, and the Catalan Autonomous Government lasted only five days.
Without clause 4.5, Valencian administrators would have been committed to pay nine million Euros for a qualifying regata in July and October. The mayoress and the representative of the Catalan Autonomous Government had defended, the cost of almost a million Euros per day in spite of the economic crisis.
Against this background, the advertising campaign of the Valencian Agency of Tourism for 2009 has preferred not to complicate things. Advertising campaigns for Valencia have chosen to ignore the thorny subject of the Americas Cup and to bet on the Formula 1 event held in the city. In addition to the well-run, spectator rich, media savvy, global sport of F1, the City will promote the Arts and Sciences, landscapes, sun and the beach.