The America’s Cup, the oldest international trophy in sport, is entering a bold new era. For the first time in its 174-year history, competing teams have agreed to a shared governance and commercial structure, forming the America’s Cup Partnership (ACP) to collectively manage and grow the event.
This historic milestone was reached by the Defender, Emirates Team New Zealand, representing the Royal New Zealand Yacht Squadron, and the Challenger of Record, Britain’s Athena Racing, representing the Royal Yacht Squadron Ltd. The final terms of the ACP were agreed in New York this week, marking a paradigm shift in how the competition will be run.
A Unified Vision for the Cup
The ACP introduces a new governance board, with each team having a seat and establishing an independent management team. Their mandate: focus on commercial growth, long-term investment, technical innovation, and enhanced fan engagement. From November 1st, 2025, the Partnership will operate as a centralized consortium, coordinating every aspect of the Cup while respecting the Deed of Gift and the 38th Louis Vuitton America’s Cup Protocol.
Emirates Team New Zealand CEO Grant Dalton said:
“The ACP allows us to collectively realise the global growth and popularity the America’s Cup and its fans deserve. Fans should expect more racing, innovative formats, continuity in teams, and the most competitive action in the world.”
Athena Racing CEO and Team Principal Sir Ben Ainslie added:
“This is a historic moment. For the first time, teams unite not just as rivals, but as stakeholders in the Cup’s future, ensuring sustainable growth and protecting its heritage.”
Countdown to Entries
The entry period for teams to join the ACP and compete in the Louis Vuitton 38th America’s Cup in Naples closes on 31 October 2025. After that, the Partnership will transition into practical operations: transfer of assets, committee formation, ACP personnel appointments, and ongoing preparations at the Bagnoli event site, including preliminary regatta venues for 2026 and 2027.
RNZYS Commodore David Blakey and RYS Ltd Commodore Bertie Bicket both highlighted the importance of this new model, emphasizing shared governance, innovation, and fairness, which will drive the event and the sport forward.
A Historic Step Forward for Sailing
The ACP sets a precedent for collaboration, stability, and long-term planning in elite sailing. By uniting the teams under one governance and commercial structure, the America’s Cup is poised to unlock untapped commercial value, technical innovation, and fan engagement on a global scale.
The clock is ticking for teams to join this landmark partnership and secure their place in the next chapter of sailing history.
