File photo / Reuters

The America’s Cup will announce its choice of 2024 venue on 31 March, with Malaga the favourite

The capital of the Costa del Sol is the favourite to host the high-profile sailing regatta, although there is competition from Ireland and Saudi Arabia

PEDRO LUIS ALONSO / IGNACIO LILLO

The 37th America's Cup, which will be held in 2024, has been mired in uncertainty since Auckland, the home of the last winning team, the Emirates Team New Zealand, renounced its ambitions to host the competition due to a lack of government support.

Valencia was also in the running, having previously hosted the sailing event in 2007 and 2010, but it also withdrew because of a lack of government support. That leaves Cork, Jeddah and Malaga as potential hosts.

Malaga is the favourite. Cork may not have the facilities to host such a large event and Jeddah may lack the leisure and recreational option associated with the America’s Cup. However, Malaga’s chances hinge on whether or not the redevelopment of the San Andrés marina goes ahead in a timely fashion. Overall, it is estimated that whoever hosts the regatta needs to invest between 75 million euros and 85 million euros to make sure their facilities are shipshape.

Regardless of where the venue is, Alinghi, owned by Swiss millionaire Ernesto Bertarelli, will participate in the 2024 competition, returning after missing three races. They will be joined by Ineos Britannia, with the support of Jim Ratcliffe, founder of the multinational chemical company Ineos and the richest man in the United Kingdom; defending Team New Zealand, sponsored by Emirates; the Luna Rossa Prada Pirelli Team, which was a challenger in 2017, and the American Magic. Crews have been reduced from 11 to eight sailors.