US syndicate Oracle reiterated Thursday that the port of Valencia in eastern Spain is the "best option" to host its multihull duel in February 2010 against Swiss side Alinghi to settle the 33rd America's Cup.

"Valencia is the best option to get the America's Cup back on track as soon as possible. This is what sailing fans from around the world are waiting for," Oracle's New Zealand skipper Russell Coutts said in a statement.

Both teams still have bases in the city on Spain's Mediterranean coast, the site of the last America's Cup which was won by Alinghi in 2007, he said.

"The infrastructure created to the specification of the Swiss defender is in place, available and ready to recreate the atmosphere of the previous America's Cup in 2007," Coutts added.

The site where the 33rd America's Cup will be held was thrown into doubt Tuesday after the New York Supreme Court ruled it could not be held in Ras al-Khaimah in the United Arab Emirates as desired by Alinghi.

Justice Shirley Kornreich said that according to the "Deed of Gift", 19th century rules that govern the event, the race cannot be held in the northern hemisphere between November 1 and May 1, with Valencia the only exception to that rule.

If Alinghi chooses a site in the southern hemisphere to stage the 33rd America's Cup, Coutts urged it to "name it as soon as possible so that we have the maximum opportunity to make an informed assessment."

Alinghi said Wednesday it would consider all options following the court ruling and would quickly announce its decision.

Oracle said it was willing "to sit down immediately" with Alinghi for talks to settle disputes between the two sides and it asked the Swiss side to appoint "an independent, neutral jury" to settle future disputes.

Alinghi and Oracle, owned respectively by Swiss biotech billionaire Ernesto Bertarelli and American computer billionaire Larry Ellison, have been engaged in a two-year legal battle over the Cup which looks set to continue.

Valencia mayor Rita Barbera said Wednesday that her city was ready to welcome the next edition of the America's Cup with "open arms". The best-of-three duel is scheduled to begin on February 8.

Alinghi and Valencia authorities signed an agreement in principle on Tuesday night to hold the event in the city, daily newspaper El Mundo reported Thursday but the report could not immediately be verified by either source.