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Alinghi syndicate owner Ernesto Bertarelli poses by the America's Cup Trophy after the announcement that Valencia will host the 33rd America's Cup in Valencia, Spain, Wednesday, July 25, 2007. AC Management president Michel Bonnefous said that the Swiss syndicate would defend its Auld Mug trophy at the same site where it won one of the most dramatic finals in the event's history over three weeks ago. (AP Photo/Fernando Bustamante)