The head of the Alinghi America's Cup yachting syndicate, Ernesto Bertarelli, will meet BMW Oracle chief Larry Ellison this weekend to try to resolve their dispute.
The two sides have been waging a court battle for more than a year and further legal delays could drown hopes of holding the 33rd edition of the event in Valencia next year.
Billionaire Ellison is poised to file an appeal after the weekend against a New York State appeals court ruling that overturned a judgment naming his team as the next challenger.
A New York judge ruled in November Oracle should be the challenger for the next edition of yachting's biggest prize rather than the Spanish yacht club CNEV favoured by Alinghi.
However, that ruling was reversed by a New York state appeals court in July, leaving Alinghi and the Spanish club as defender and challenger of record.