The Defender of the America’s Cup, Team New Zealand, and the Challenger of Record Athena Racing, have signed the protocol for the 38th edition of the America’s Cup.
The new protocol introduces several landmark proposals, including a mandated female crew member, a biennial (two-year) schedule, and a partnership agreement that allows all participating teams "collective stewardship" over future editions of the Cup, both on and off water. To this end, a new executive management team will be established, headed up by a new, independent CEO.
Crucially, this means that the Defender does not have implicit right to choose the following edition's venue, allowing locations to be evaluated based on commercial viability.
"Many of us that have been following the Cup feels this is a long time coming," said Athena CEO Sir Ben Ainslie in a press conference. "The event needs to be financially sustainable, and to do that, there needs to be continuity and long-term planning. It’s an exciting time – and a seismic moment for the America's Cup."
Another significant change is the introduction of a cost containment. All teams have been capped at €75 million expenditure for the 38th edition, with refinements scheduled for the 39th. The protocol also stipulated that existing teams will use the same AC75 hulls that were raced in the 37th America's Cup, with new teams permitted to acquire an existing AC75 – or build a new hull to the design of an AC37 hull.
In a move to maximise commercial, media and fan engagement, the racing teams will also be able to carry one "guest racer" on board. The protocol outlines "sponsors, media, influencers and dignitaries" as some of the suitable candidates for the "VIP" position.
"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," said Team New Zealand CEO Grant Dalton. "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.”
This groundbreaking announcement follows some upset around the America's Cup earlier this year, when a chorus of challengers – including Alinghi Red Bull Racing and Athena Racing – spoke out against an "ongoing lack of transparency" from Team New Zealand.
According to this latest release, Naples has now been confirmed as the host city, with the event set to take place in the spring and summer of 2027.