America's Cup courses and rules

The rules and regulations governing the long-awaited America's Cup showdown between Cup-holder Ernesto Bertarelli and challenger Larry Ellison have finally been issued and the first of the best of three race regatta should start in Valencia, Spain, on February 8 – provided it is not too windy nor the sea too rough.

The Notice of Race issued this week says that racing will only be held in winds of less than 15 knots (measured 60 feet above sea level) and if the wave height does not exceed one metre. Under normal circumstances sailors would fall about laughing at such restrictions on a yacht race, but the two competing vessels are not yachts.

In the documentation issued to cover the 33rd challenges for the world's oldest sporting trophy, the word "yacht" has been replaced on every mention by the word "boat". This should make happy some old yachties who have been grumbling about boats that need engines to control the sails not being "proper yachts".

For the past year yachting experts have also pointed out the dangers of trying to sail two such lightly-built and extremely fast vessels in a decent breeze or choppy water.

The races will be held on February 8, 10 and 12, with February 15 to 25 being marked as reserve days if racing can't take place as planned. Both the boats will have television cameras aboard but at this stage no host broadcaster has stepped forward to screen the regatta, so moving pictures could end up being run exclusively on the web.

Talks in Singapore on Tuesday between the Swiss team Alinghi and the US challenger BMW Oracle were expected to sort out any small disputes between the teams. A final 'OK' will be welcomed by sailors and yacht clubs around the world as the squabble between Bertarelli and Ellison has kept an army of lawyers busy in the New York Supreme Court for the past two years.

Interestingly, the Notice of Race says there is no entry fee for the regatta – but you could run Australia for a month or more on what this exercise has cost Alinghi and BMW Oracle so far.

The first race will be a two-leg windward and return race of 40 nautical miles. The second race will be a triangular course of 39 nautical miles with the first leg upwind. The third race, should it be needed to decide the best two out of three winner, will be windward and return again.

The time limit to complete the course is seven hours, a period that should not be needed as each race could be over in less than 90 minutes, if the competing trimaran and catamaran are as fast as reports claim.

Each competitor and the event organiser is allowed just four hospitality boats inside the flag area at the start, so there will be some unseemly jostling among the rich and famous for a position aboard.

In Valencia this week, Alinghi took the wraps off it latest secret weapon – two powered delta wing gliders that have floats for water take-off and landings (see third image). The two air machines were built in Australia and they are being flown by Australians. Alinghi plans to use them to measure the wind speed across the course.