The Royal New Zealand Yacht Squadron -RNZYS-, represented by ‘Team New Zealand’, and the Royal Yacht Squadron Ltd -RYS Ltd-, represented by ‘Athena Racing’, have signed the Protocol for the Louis Vuitton 38th America’s Cup, to be staged in Naples 2027. This landmark agreement introduces, for the first time, an equal governance and shared authority model among all participating teams, marking an unprecedented shift in the history of the event. Entries open on 19 August 2025, launching a new chapter aimed at expanding opportunities, driving global growth in sailing, and uniting the community of the sport’s oldest and most iconic competition.

At the heart of the Protocol lies a Partnership Agreement enabling all teams to actively participate in event management and key commercial decisions, ensuring an equal voice in shaping the future of the America’s Cup. New York Yacht Club -NYYC- Commodore Jay Cross stated: “As the founding trustee of the America’s Cup, we are fully supportive of the move to modernise the oldest sporting trophy in the world.”

Calendar changes to fix “its lack of continuity”

The new structure sets the competition to be held every two years, with consistent race formats designed to maintain global audience interest and enable stronger promotion. ‘Team New Zealand’ CEO Grant Dalton explained: “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. This transformation gives all teams collective stewardship, and we are introducing a new executive management team headed by an independent CEO.”

Negotiating the Protocol with the Challenger of Record aims to provide long-term stability for teams, commercial partners, and host venues to invest in multiple editions. According to Dalton, this is the boldest change in 174 years, while respecting the Deed of Gift, and represents “the best initiative to grow what is already one of the greatest sporting events in the world.”

Inclusion and equality at the core of the new model

The Protocol also introduces measures to ensure greater equality and representation, such as requiring at least one female crew member aboard each AC75. Boats will be crewed by five sailors, with a larger share of functions powered by battery technology. Two of the sailors, in addition to the female crew member, must be nationals of the team’s country, while the remaining two may be foreign nationals.

The racing format has been restructured to keep all teams competing for longer. The Louis Vuitton Cup will feature both fleet races and match races, with results determining the top four challengers advancing to the semi-finals and finals, where the winner will face ‘Team New Zealand’ in Naples 2027.

More preliminary races and guest experiences

Up to three preliminary regattas will take place in 2026, followed by one in early 2027 with AC40s, where each team may enter two boats — one with female and youth crews. A cost cap of €75 million per team will be imposed, with existing teams required to reuse AC75 hulls from the 37th edition if available. New entrants must either acquire an existing AC75 or build one based on the AC37 design, meeting the country construction requirements outlined in the Protocol.

During each race, AC75s will be allowed to carry a guest on board — including sponsors, media representatives, or public figures — to experience the event first-hand and share it with global audiences. RNZYS Commodore David Blakey stressed that this new equal governance model promotes pathways for young sailors and reinforces New Zealand’s leadership in innovation, technology, and sailing culture.

Italy was confirmed in May 2025 as the host nation, with the historic city of Naples serving as the official venue. The Louis Vuitton 38th America’s Cup will take place between spring and summer 2027, positioning Naples as a world-class stage for elite sailing.