While Bermuda has been awarded a stop on the America’s Cup World Series circuit next year, the question now being asked is whether that is a consolation prize or simply a precursor to the main event.

It is unlikely that San Diego, whom Bermuda are competing against for the right to host the Cup, will be named as a venue for the World Series tour, but Chicago and San Francisco will.

Chicago and San Franciso had put in bids to host the America’s Cup but were cast aside.

All will be revealed by the middle of next month, possibly as early as December 1 if some international media are to be believed.

Challengers from other countries are eager to find out the venue so that they can finalise sponsorship deals. The full list of challengers has not yet been announced.

Harvey Schiller, the former United States Olympic Committee executive director, who is the commercial commissioner of the America’s Cup, was quoted this week as saying that the race between San Diego and Bermuda to host the event was neck and neck.

“It’s pretty even right now,” said Mr Schiller when asked if a decision on the final venue was close. “There are still a few more things organisers are working on.”

But what is now certain is that some of the top international sailors will be racing on Island waters in 2015.

The World Series is considered a warm-up for the America’s Cup two years later.

The races will be sailed in high-performance, 45-foot wing-foiled catamarans and that will help to determine the standings for the America’s Cup qualifiers in 2017, which will be sailed in 62-foot versions of the same catamarans.

Other World Series venues have yet to be announced.

Bernie Wilson, the Associated Press sailing correspondent, has reported that Russell Coutts, CEO of the Oracle Team USA, the defender, and software billionaire Larry Ellison who owns Oracle, will make the final decision.

Coutts has raced several times in Bermuda in the Gold Cup and has been on five boats that have won the America’s Cup. He is also a director of the America’s Cup Event Authority.

Coutts and Ellison hold two of the three Oracle-connected spots on the five-member America’s Cup committee of the Golden Gate Yacht Club, the Cup’s trustees.

Should Bermuda be chosen, it would be the first time that an American champion makes its defence of the trophy in foreign waters.