VALENCIA, Spain (AP) – Four years of testing, training and spending will come to a head when Alinghi and Emirates Team New Zealand face off for the America’s Cup.

Defending champion Alinghi begins the first European defense of the Auld Mug in its 156-year history when the best-of-nine match race series begins Saturday off Port America’s Cup.

“Four years of waiting, four years of great work. Yes, I’m excited,” Alinghi owner Ernesto Bertarelli said Friday.

Emirates Team New Zealand won the coin toss to determine entry positions, and will have the advantageous starboard side for each odd-numbered race.

Whether that provides Emirates Team New Zealand with a psychological boost in the repeat of the 2003 final – which the Swiss team swept 5-0 in Auckland, New Zealand – is inconsequential to the Kiwis.

“Certainly there are a lot of lessons we can take from 2003,” said Kiwi helmsman Dean Barker, who is sailing in his third America’s Cup.

“It made the guys a lot tougher mentally. But it’s such a long time ago now that you have to let it go eventually.”

Alinghi has been watching from the sidelines since it won Louis Vuitton Act 13 – the last of the fleet races involving the defender and 11 challengers – in mid-April.

Aside from in-house training, Alinghi has sailed with Desafio Espanol and Luna Rossa in practice in the past month.

Even Emirates Team New Zealand sparred with the Swiss syndicate before completing a 5-0 sweep over the Italians in the Louis Vuitton Cup final.

“This is going to be as good as it’s ever been,” Alinghi skipper Brad Butterworth said. “We’re up against a great team that we’ve sailed against in the past. The best two teams are going at it.”

Butterworth said Ed Baird would helm the SUI-100 yacht, the American helmsman’s fourth America’s Cup.

Bertarelli will also be onboard as a member of the afterguard, as he was in 2003.

“There’s nothing different to be said, everyone knows what they have to do,” the Swiss billionaire said. “There is no more time for speeches, it’s time for racing.”

Emirates Team New Zealand is expecting familiar tactics from a Swiss crew heavy with Kiwis.

“We have been fortunate enough to scrimmage with them a little and the two styles seemed to match pretty well,” said Terry Hutchinson, the Kiwis’ tactician.

“I suspect you’ll see us do the same things we’ve been (doing) until now – looking for subtle little gains and capitalizing on them.

“With Alinghi I think you’ll see the same thing.”

Both teams will dock out to a symphony of fireworks, music and the roar of an overhead squadron of jets before the start of Saturday’s first flight in the 32nd edition of the world’s oldest sporting competition.

Valencia has spent nearly $672 million into developing its port since being chosen to host the competition in 2003.

“There’s no question that this venue, this America’s Cup is a different kind from a team and spectators perspective. Whoever wins will have a difficult task to match it,” Bertarelli said.

Though neither team will admit it, the future direction of the America’s Cup could be at stake.

Alinghi wants to hold the event every two years to capitalize on the growth garnered from moving the competition to Europe for the first time since the maiden competition off the Isle of Wight in 1851.

Emirates Team New Zealand has said it would prefer to stick with tradition, returning nationality rules and stretching the competition back out to a four-year cycle.

“If you win you have the opportunity to decide the Cup’s future,” Bertarelli said.

“I have a view to this sport and they have a different view, and that’s the beauty of it.”

AP-ES-06-22-07 1613EDT