The clock is ticking ever louder: there are only two weeks left until the end of the registration period for the 38th Louis Vuitton America's Cup on 31 October 2025. That's the deadline for teams to register for the next America's Cup and join the new partnership. According to the organisers, the new association, known as the America's Cup Partnership (ACP), "marks an important milestone in the agreement" and "heralds a new era for the oldest trophy in international sport".
America's Cup: moving forward in joint management
The Cup defenders from Team Emirates Team New Zealand (Royal New Zealand Yacht Squadron) and Athena Racing (Great Britain, Royal Yacht Squadron Ltd) as Challenger of Record have now officially agreed on the conditions for the establishment of the America's Cup Partnership (ACP) after a year of marathon negotiations. This week, the final points for the establishment of the new partnership were finalised.
The aim of the ACP is to "focus on innovation in the America's Cup while enabling growth and long-term investment". The aim is to "create a platform for the financial stability of the event and the participating teams". The keyword for the agreement is "joint management".
Defenders and Challengers of Record have announced what they see as a "historic agreement" that "for the first time in the 174-year history of the event" has seen the participating teams "unite under a common governance and economic structure". Together, they want to "manage the competitions more sustainably, share the economic aspects and maximise the connection with America's Cup fans around the world". It is well known that the negotiating parties also had one eye on the SailGP World League in their tug-of-war over the way forward.
America's Cup competitions every two years
The America's Cup Partnership will be governed by a new Board of Directors with a seat for each team. This will form an independent management team focussed on commercial growth, long-term investment in the event and the teams, continuous technical development and innovation in the biennial America's Cup competitions.
The partnership is scheduled to be officially operational from 1 November 2025. ACP will act as the central consortium for the teams, as in other successful global sports and event organisations. ACP aims to plan, manage, organise and market all aspects of the America's Cup for ongoing event cycles as a world-class sporting event in a way that enhances the commercial value and global reputation of the America's Cup.
In a statement, it said that the ownership, management and utilisation of rights, contracts, revenues, assets, personnel and activities necessary for the effective running of the event were in accordance with the two governing documents: the Deed of Gift and the Protocol for the 38th Louis Vuitton America's Cup.
Into the future with new courage
Team New Zealand's CEO Grant Dalton said: "The America's Cup has been the pinnacle of sailing for 174 years, with innovation and technology in its DNA, but it has long been managed on an 'event-by-event' basis without a structure for long-term planning. There is a huge amount of untapped and valuable intellectual property and commercial value embedded in the technology of the teams as well as the event."
Dalton continued: "As other highly successful sports have shown over the last decade, we believe that by partnering with our other teams to create a more permanent governance and commercial organisation, together we will achieve the incredible global growth and popularity that the America's Cup and its fans deserve."
The protocol for the 38th America's Cup was signed in August. The partner model has now also been finalised.
It must have been a rocky road with a high willingness to compromise on both sides to reach the agreement that has now been reached. Grant Dalton said: "The success of the creation of ACP is due to a bold shared vision and significant concessions made by all parties for the good of the sport and the event."
The creation of the ACP is a truly historic moment for the America's Cup." Sir Ben Ainslie
For the Challenger of Record, and therefore the defenders' negotiating partner on the challengers' side, Sir Ben Ainslie, CEO and Team Principal of the British Cup team Athena Racing, said: "The agreement has taken 12 months and the co-operation of all the teams. For the first time the teams are not just rivals on the water but have come together as a common interest group for the future of the sport."
Utilising the Cup potential, protecting the legacy
Four-time Olympic champion and British America's Cup chaser Ben Ainslie is convinced: "This collective approach allows us to realise the global commercial potential of the Cup while protecting its unique heritage. It marks the beginning of an exciting new era, not only for the teams, but also for the fans, partners and the sport of sailing."
RNZYS Commodore David Blakey described the formation of the America's Cup Partnership as a "monumental task" and said: "Now that the partnership is established, we look forward to seeing the teams back on the water and preparing for the 2027 regatta." Speaking for the British Royal Yacht Squadron, Commodore Bertie Bicket said: "This agreement is a defining moment not only for the America's Cup, but for sailing as a whole."
The establishment of the partnership will move into the practical phase from 1 November after the closing date, during which assets will be transferred, key committees set up and the first ACP employees appointed. At the same time, the operational planning in the upcoming Naples venue continued. This includes the development of the Bagnoli venue and the overall event plan as well as securing the venues for the 2026 and 2027 pre-regattas.
The America's Cup on the move
Numerous advisors were involved in the complex agreement that has now been finalised. The future will have to show how strong and united this new association of interests is, which wants to conquer new horizons for the America's Cup.
