VALENCIA, Spain — America's Cup holder Alinghi and 18 other syndicates have settled on new boat design rules for the 33rd edition of the Cup even while it remains in limbo because of a court challenge.

The group agreed to develop a boat similar in cost to the version 5.0 boat used in the last Cup, but the new boat will be lighter and have better downwind performance, organizers said on Friday. The yachts will have a maximum length of 26 meters, a draft of five meters and a displacement of 17.5 tons.

"The boat is slightly longer than the ACC Version 5.0 boats and several tons lighter, with similar sail area and righting moment," said Tom Schnackenberg, a renowned designer who is coordinating the development of the new design. "It promises to have similar upwind speed and to have sparkling downwind performance."

However, the future of the event remains up in the air until a New York appeals court rules whether Desafio Espanol is a legitimate challenger of record.

BMW Oracle, bankrolled by software billionaire Larry Ellison, contends that Desafio Espanol is not a legitimate yacht club and therefore is not entitled to be the challenger of record.

The Cup has been paralyzed by the near 18-month court case and racing cannot begin before a judgment is reached. A decision could emerge as early as Feb. 10 when the judge is scheduled to hear oral arguments.