America's Cup venue compromise sought over weekend

Defending America's Cup champion Alinghi of Switzerland and their US challenger Oracle will meet over the weekend in New York to try to reach an agreement on the site for the next edition of the event, the two sides said Friday.

The announcement was made after a hearing on Friday before New York Supreme Court Judge Shirley Kornreich which both Alinghi and Oracle qualified as "productive". They are to report back to Kornreich on Monday.

Alinghi, which as defending champion is charged with choosing a venue, on Thursday offered to hold the 33rd America's Cup in eastern Australia in a bid to resolve its long-running dispute with Oracle over a venue for their February duel.

The Swiss side had initially selected selected the Gulf emirate of Ras al-Khaimah in the United Arab Emirates but Kornreich ruled last week that the location was ineligible because the 19th century rules that govern the cup hold that wintertime races must be held in the southern hemisphere.

Oracle favours the Spanish Mediterranean port of Valencia, which hosted the last edition of the race in 2007 which was won by Alinghi.