Banners announce 32nd America's Cup in harbor hosting yacht club bases; Valencia, Spain

Couple descends escalator outside team base of Italy's Luna Rossa Challenge at the 32nd America's Cup; Valencia, Spain

Tourists stand by yacht racing mural on outside of base building of Switzerland's Team Alinghi, the defending champion of the 32nd America's Cup in Valencia, Spain

American team, BMW Oracle Racing, is towed past base building of South Africa's Shosholoza team to join fleet racing at 32nd America's Cup; Valencia, Spain.

Crewman from Italy's Luna Rossa Challenge team talks to reporter after day of fleet racing at 32nd America's Cup competition; Valencia, Spain.

Louis Vuitton Cup and America's Cup sit on display at Veles e Vents, main building of the 32nd America's Cup; Valencia, Spain.

Five bottles of champagne sit on dock awaiting Team Alinghi, winners of Act 11 fleet racing at 32nd America's Cup; Valencia, Spain.

Alinghi crewmen hoist teammate on their shoulders during victory celebration of Act 11 fleet racing at the 32nd America's Cup; Valencia, Spain.

Photographers line up at trophy ceremony to shoot Alinghi crewmen, winners of Act 11 fleet racing at the 32nd America's Cup; Valencia, Spain.

Alinghi crewmen spray each other with champagne during victory celebration of Act 11 fleet racing at the 32nd America's Cup; Valencia, Spain.

Visitors watch yacht race from a viewing stand in America's Cup Park; Valencia, Spain.

Woman with binoculars watches yacht race from a viewing stand in America's Cup Park; Valencia, Spain.

Spectators follow yacht racing action on the Giant Screen in America's Cup Park; Valencia, Spain.

Spectators follow yacht racing action on the Giant Screen in America's Cup Park; Valencia, Spain.

Spectators in harbor greet yachts and boats as they return from an afternoon of America's Cup fleet racing; Valencia, Spain.

Spectators in harbor greet yachts and boats as they return from an afternoon of America's Cup fleet racing; Valencia, Spain.

Young American girl poses at helm of pretend yacht in the America's Cup Park; Valencia, Spain.

Training sailboats sit in row at Team Alinghi's base in Port America's Cup; Valencia, Spain.

Guests experience yacht racing aboard floating simulator at Team Alinghi's base in Port America's Cup; Valencia, Spain.

Veles e Vents building, or Sails and Winds, dominates Port America's Cup with its modernistic architecture perched at the harbor entrance; Valencia, Spain.

Veles e Vents building, or Sails and Winds, dominates Port America's Cup with its modernistic architecture perched at the harbor entrance; Valencia, Spain.

Charter yacht carries VIP guests past Veles e Vents building in Port America's Cup to watch afternoon of racing; Valencia, Spain.

Tender prepares to tow Italy's Team Luna Rossa past megayacht dock in Port America's Cup to join afternoon of America's Cup fleet racing; Valencia, Spain.

Ultra-rich spectators dock their luxury boats in the middle of the action at the superyacht marina in Port America's Cup; Valencia, Spain.

Luxury boats line up at the superyacht marina in Port America's Cup; Valencia, Spain.

View of team bases in Port America's Cup from vintage America's Cup yacht docked at superyacht marina; Valencia, Spain.

Tourists visit superyacht marina in Port America's Cup; Valencia, Spain.

Luxury yacht sits tied up at superyacht marina in Port America's Cup; Valencia, Spain.

America's Cup yachts jockey for position during pre-start maneuvers before fleet race; Valencia, Spain.

America's Cup yachts jockey for position during pre-start maneuvers before fleet race; Valencia, Spain..

China Team prepares to hoist genoa jib before America's Cup fleet race; Valencia, Spain.

China Team hustles to trim rigging before afternoon of America's Cup fleet racing; Valencia, Spain.

China Team's crew stows gear after an intense afternoon of America's Cup fleet racing; Valencia, Spain.

China Team crew begins pulling in spinnaker as bow passes green buoy marking finish of America's Cup fleet race; Valencia, Spain.

China Team crewmen wrestle spinnaker boom silhouetted by backlit spinnaker after long afternoon of America's Cup fleet racing; Valencia, Spain.

China Team crewman silhouetted by backlit spinnaker gives thumbs up after proudly taking team-best sixth place in America's Cup fleet race, Act 11; Valencia, Spain.

France's Areva Challenge team tests wind and sails before start of America's Cup fleet racing; Valencia, Spain.

France's Areva Challenge splashes through waves before start of America's Cup fleet racing; Valencia, Spain.

France's Areva Challenge crew packs spinnaker after intense afternoon of America's Cup fleet racing; Valencia, Spain.

Germany's United Internet chases Italy's Luna Rossa team as they round mark in America's Cup fleet race; Valencia, Spain.'s Cup race, Act XI; Valencia, Spain.

Germany's United Internet team tends to rigging between races during America's Cup fleet racing; Valencia, Spain.

Germany's United Internet team prepares for afternoon of America's Cup fleet racing as grinders trim sails; Valencia, Spain.

Crew of Italy's +39 Challenge team hunkers down on first leg of America's Cup fleet race; Valencia, Spain.

Italy's Capitalia team battles for position in America's Cup international sailing yacht race, Act XI; Valencia, Spain.

Italy's Capitalia team bowman stands at the bow to call distance to the start line during prestart phase of America's Cup fleet race; Valencia, Spain.

Italy's Capitalia team splashes across wave during prestart maneuvers of America's Cup international sailing yacht race; Valencia, Spain.

Italy's Capitalia team splashes through waves during prestart maneuvers of America's Cup international sailing yacht race; Valencia, Spain.

Italy's Capitalia foredeck crew hoists spinnaker and pulls down genoa jib as yacht rounds mark and sails downwind during America's Cup fleet race; Valencia, Spain.

Italy's team Luna Rossa team trims sails after rounding mark and switching from spinnaker to genoa during America's Cup fleet race; Valencia, Spain.

Emirates Team New Zealand chases Italy's Capitalia team after rounding mark at far end of course leg in America's Cup fleet racing; Valencia, Spain.

Emirates Team New Zealand foredeck crew pulls down genoa jib and hoists spinnaker as they round mark in America's Cup fleet race; Valencia, Spain.

South Africa's team Shosholoza battles for lead against Spain's Desafio Espanol team during America's Cup fleet race; Valencia, Spain.

Spain's team Desafio Espanol speeds upwind in late afternoon sun during America's Cup international sailing yacht race; Valencia, Spain.

Spain's team Desafio Espanol joins cluster of yachts at start line of America's Cup fleet race; Valencia, Spain.

Spain's team Desafio Espanol crewman perches high atop mast to judge wind and opponents' positions during America's Cup international sailing yacht race; Valencia, Spain.

Sweden's Victory Challenge bowman relays starting line distance and positions of other boats to helmsman during prestart maneuvers at America's Cup fleet race; Valencia, Spain.

Swiss team Alinghi slices through waves during prestart maneuvers of fleet race in 32nd America's Cup international sailing yacht race; Valencia, Spain.

Swiss team Alinghi battles for lead against Spain's Desafio Espanol as bowman precariously edges forward to start changeover from genoa to spinnaker at rounding of mark in America's Cup fleet race; Valencia, Spain.

Swiss team Alinghi battles for lead against Spain's Desafio Espanol as bowman precariously edges forward to start changeover from genoa to spinnaker at rounding of mark in America's Cup fleet race; Valencia, Spain.

Detail view of USA's BMW Oracle Racing team's mainsail and genoa gib at 32nd America's Cup international yacht race; Valencia, Spain.

Crew of United States team BMW Oracle Racing relaxes before start of America's Cup fleet racing; Valencia, Spain.

America's Cup sailing yachts circle around start line as they maneuver for position and the start boat counts down time; Valencia, Spain.

America's Cup sailing yachts surge off start line as they maneuver for position at beginning of fleet race; Valencia, Spain.

Germany's United Internet team joins pack of America's Cup yachts battling for position at start of fleet race; Valencia, Spain.

Germany's United Internet team joins pack of America's Cup yachts battling for position at start of fleet race; Valencia, Spain.

Spain's Desafio Espanol and Germany's United Internet join pack of America's Cup yachts battling for position at start of fleet race; Valencia, Spain.

America's Cup yachts surge over start line as timing boat's clock flashes from zero to 9:59 signalling start of fleet race; Valencia, Spain.

America's Cup yachts surge over start line at start of fleet race; Valencia, Spain.

America's Cup yachts surge over start line at start of fleet race; Valencia, Spain.

America's Cup sailing yachts jockey for position just after start of fleet race; Valencia, Spain.

Italy's Luna Rossa Challenge edges up on USA's BMW Oracle Racing team as pair rounds mark in America's Cup fleet race; Valencia, Spain.

Italy's Luna Rossa Challenge edges up on USA's BMW Oracle Racing team as pair rounds mark in America's Cup fleet race; Valencia, Spain.

Italy's +39 Challenge battles neck and neck with France's Areva Challenge team in America's Cup fleet race; Valencia, Spain.

America's Cup yachts round the mark at far end of fleet race course passing orange buoy containing photographers and officials; Valencia, Spain.

Massive spinnakers billow in a neat row as sailing yachts race downwind on final leg of America's Cup fleet race; Valencia, Spain.

Massive spinnakers billow in a neat row as sailing yachts race downwind on final leg of America's Cup fleet race; Valencia, Spain.

Huddle of colorful spinnakers gleam in late afternoon sun as France's Areva Challenge sails under genoa on downwind leg of America's Cup fleet race; Valencia, Spain.

Huddle of colorful spinnakers gleam in late afternoon sun as sailing yachts race toward finish on downwind leg of America's Cup fleet race; Valencia, Spain.

America's Cup yachts hoist spinnakers after rounding mark and sailing downwind on final leg of fleet race; Valencia, Spain.