America's Cup Management said today that it "is concerned that the feasibility of organizing the next America's Cup in Valencia in 2009 has been effectively compromised" due to Golden Gate Yacht Club's lawsuit against Societe Nautique de Geneve, the home club of winner Alinghi.

"ACM is considering all options, including the possibility of postponing the event to a later date," the group said in a statement.

Golden Gate's BMW Oracle Racing sued SNG in July over proposed rules changes for the next America's Cup.

The San Francisco-based syndicate is looking to remove Desafio Espanol as the official challenger and halt rules changes that include a change of boat class.

Golden Gate claimed the Spanish syndicate is an "invalid challenger" because it never held a regatta as stipulated in the rules of the "deed of gift," the regulations that govern the America's Cup.

Club Nautica Espanol de Vela, home of Desafio, signed the protocol for the 33rd America's Cup to become challenger of record moments after Alinghi completed its 5-2 victory over Emirates Team New Zealand in July.

New York state's Supreme Court, which has jurisdiction to settle all disputes in the competition, will hear arguments in the case on Oct. 22.

ACM chief executive Michel Hodara said the lawsuit was the sole problem.

"Nothing has changed. We are just saying that now we find ourselves in a situation where time is the problem," Hodara said. "We have reached a stage and we have to face the reality of the situation."

BMW Oracle Racing said it was "concerned" by the news.

"We have been urging mediation and-or a speeded up court process for some time now ... and the defender has resisted this," spokeswoman Jane Eagleson said. "Maybe this is the right time for everyone to get together and sort out this protocol once and for all."

ACM said it will consult with Alinghi, Desfio Espanol, the other five challenging teams and Spanish authorities "in the coming days" to discuss the matter.

"In the meantime, ACM understands that SNG continues to try to find a resolution of the dispute pending with Golden Gate Yacht Club in New York," it said.