New regulations for the America’s Cup, revealed today (12 August 2025), have been described as one of the most significant shifts in the event’s 174-year history.
The changes, outlined in a protocol signed by The Royal New Zealand Yacht Squadron, represented by Team New Zealand, and the Royal Yacht Squadron Ltd, represented by Athena Racing, will apply when the 38th edition takes place in Naples, Italy, in July 2027.
Crews will have five members, including at least one woman, with increased function of the boat coming from battery. Under revised nationality rules, at least two crew members, plus the female sailor, must be nationals of the team’s country.
The protocol includes measures for predictable scheduling, with the competition planned as a bi-annual event using consistent formats to encourage more audience engagement.
The protocol for the Louis Vuitton 38th America’s Cup also establishes a partnership giving all participating teams equal authority. Entries for the 38th America’s Cup open on 19 August 2025.
NYYC commodore Jay Cross says: “As the founding trustee of the America’s Cup, we are completely supportive of the move to modernise the oldest sporting trophy in the world.”
Team New Zealand CEO Grant Dalton adds: “As the three-time successive winner and defender of the America’s Cup and along with the RNZYS as current trustee, we feel the responsibility to continue to drive the growth of the America’s Cup event. Although the America’s Cup is the oldest trophy in international sport and the pinnacle of sailing, its Achilles’ heel has always been its lack of continuity, so this transformation now gives all teams collective stewardship, and we are introducing a new executive management team to be headed up by a new independent CEO.
“By negotiating this protocol and the America’s Cup partnership with the challenger of record, it provides certainty for teams, commercial partners, and event venues to invest for multiple editions. This is the boldest change in 174 years of the cup, while respecting the Deed of Gift, along with the challenger of record we are confident this is the best initiative to grow what is already one of the greatest sporting events in the world.”
The agreement forms the America’s Cup Partnership (ACP), which will manage on- and off-water formats, and oversee development, protection and commercialisation of media and commercial rights.
It’s been a tumultuous period for the America’s Cup — the world’s oldest and most iconic sailing competition — which suffered a major blow when Alinghi Red Bull Racing terminated its campaign in April 2025.
The decision came just days after Ineos Britannia abandoned its challenge amid an increasingly acrimonious dispute with Athena Racing.
In May, a spat broke out between Athena Racing, American Magic and Emirates Team New Zealand (ETNZ) fielding accusations of ‘unreasonable allegations’, ‘lack of transparency’, ‘premature announcements’ and NDAs remaining unsigned.
The new protocol also details measures to increase inclusivity, enhance national representation and control costs.
Athena Racing CEO and team principal Sir Ben Ainslie says: “This is a seismic moment for the America’s Cup. The partnership agreement fundamentally reshapes the governance and organisation of the event. The teams and yacht clubs share a vision to make the America’s Cup more inclusive, compelling, and financially sustainable. This new model marks a unified commitment to that vision. I am excited for the future of the sport.”
It retains the Women’s and Youth America’s Cup events, in addition to the new requirement for at least one female sailor on the AC75.
The competition format will see the Louis Vuitton Cup group stage include both match and fleet racing, with results determining the top four challengers. These teams will race in knockout semi-finals (first to five wins) and finals (first to seven wins) to decide the challenger for Team New Zealand.
Up to three preliminary regattas are scheduled for 2026 and one in early 2027, raced in AC40s. Teams may enter two AC40 yachts per event, with one crewed by women and youth sailors. A final preliminary regatta in Naples will use AC75s before the Louis Vuitton Cup challenger series.
A €75m cost cap per team will apply for AC38, with refinements planned for AC39. Existing teams must use AC75 hulls from the 37th America’s Cup if available. New teams can acquire an existing hull or build one to the AC37 design. All hulls must meet ‘Constructed in Country’ requirements.
Each AC75 will also carry one guest racer during competition, providing sponsors, media and other guests with first-hand experience of racing.
RNZYS commodore David Blakey said: “As current trustee of the America’s Cup, we have been integral in the process with Team New Zealand, and the challenger of record, in carving this new path for the America’s Cup. Promoting pathways for young sailors and developing the sport in New Zealand is a top priority for RNZYS, which this protocol and partnership delivers on. We are immensely proud of our national team’s performance on the world stage and Team New Zealand winning the America’s Cup represents the very best of New Zealand’s innovation, technology and culture. Bring on Naples in 2027!”
RYS Ltd’s Bertie Bicket adds: “Royal Yacht Squadron Ltd is delighted to embark on a fourth successive America’s Cup challenge with Sir Ben Ainslie and Athena Racing, as the challenging Yacht Club for the 38th America’s Cup. I would like to thank our friends at the Royal New Zealand Yacht Squadron and Team New Zealand with whom, alongside Athena Racing, we have worked closely over the past 9 months to bring about this paradigm shift to the future structure of the America’s Cup. This has been a complex endeavour that has required a huge amount of collaboration and goodwill from all parties.”
Naples, confirmed in May 2025 as the host city, will stage the Louis Vuitton 38th America’s Cup in spring and summer 2027.
The protocol governing the 38th America’s Cup can be read in full online.
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