What's going on?

March 2009 is the current court ruling, which presumably makes it southern hemisphere (deed of gift stipulation). Whether that will stand, who knows?

Even the Sailing Anarchy crowd is starting to lose interest now.

AC is governed by a "deed of gift" dating back to the 19th century or an agreed arrangement between defender and challenger(s), such as using 12 metre yachts or IACC yachts. Agreement has broken down and we are now in "deed of gift" land.

There is likely to be a match in 90 foot multihulls. Nobody knows where or when.  Nobody knows what the boats will look like for sure. Nobody knows for sure that both sides will actually turn up. There have been a series of court cases, which continue. Nobody knows when they will rule. It is quite likely the match will happen before the court cases conclude and the result will end up decided in court. 

The full story would run to 1000s of words and I doubt anyone is about to write it for you. Nor is there a consensus on what has really happened, as all accounts are more or less partisan. Tried google?

We've run a few stories from the different sides lately. The picture is seriously confused...

Currently:

• Alinghi won a court case so the Spanish 'club' is the challenger of record
• BMW Oracle is appealing this
• BMW Oracle has built a 90' tri, Alinghi are reported to be building one, these would be used in a Deed of Gift match if BMW Oracle win court case and are the Challenger of Record again.
• There was a challenger meeting but neither BMW Oracle or Mazcalzoni took part
• Alinghi want to hold the next AC in 90' monohulls

What's going to happen in the near future? Who knows. It's a spat between billionaires with the America's Cup held to ransom in the middle. All they're succeeding in doing is tearing the handles off the cup.