Nervous times for Valencia; would BMW Oracle really hold a defence there?

In letters to both the challengers and Alinghi, which were leaked last week, Russel Coutts says that he wants BMW Oracle and Alinghi to commit to an AC 34, in Valencia, in 2011. Alinghi/ACM has already committed to Valencia 2011, so if the Swiss were to win a Deed of Gift Challenge Valencia mayoress, Rita Barbera, would be able to sleep easily at night knowing that all was on course for 2011.