The island of Bermuda and the city of San Diego have been shortlisted as potential host cities for the 35th America's Cup.
Chicago, which had also been under consideration, is now a likely venue for America's Cup World Series racing in 2015 and 2016.
Bermuda is a regular sailing venue, while San Diego is one of just seven cities to have hosted the America's Cup.
The America's Cup event authority director Sir Russell Coutts says they'll be in good hands with either venue.
The host city for the next America's Cup will be announced by ACEA before the end of this year.