Sailing syndicate Alinghi has said it will run the 33rd America's Cup off Valencia, Spain, in February 2010.
Geneva-based Alinghi released a statement on Tuesday saying it had written to a New York judge confirming the venue for sailing's most prestigious race.
The last America's Cup in 2007 was also held in Valencia.
But Alinghi left the door open to challenger BMW Oracle Racing, saying the California-based team could take up the offer to race off Australia. BMW Oracle have until November 13 to accept.
Alinghi also attacked BMW Oracle for "trying to delay the Cup and continue to try and gain competitive advantage".
"We went into the talks in good faith, ready to make concessions in order to guarantee the return of the Cup to the water for a February duel between two state of the art multi-hulls, but sadly once again BMW Oracle were in power grab mode," Alinghi skipper Brad Butterworth said.
BMW Oracle will race a three-hulled boat. Alinghi's vessel is a catamaran.
The two sides have been locked in a protracted legal battle over where the race should be held. Alinghi had proposed Ras Al Khaimah, one of the United Arab Emirates. That plan was rejected in a New York court in October.