Update
INCREDIBLE GLOBAL GROWTH AND POPULARITY? – Jack Griffin Could we please have the America’s Cup back? As your scribe types these words it looks as if we may have only three challengers for the 2027 America’s Cup – Athena Racing, Luna Rossa Prada Pirelli and France’s Orient Express Racing Team –with an outside chance of one or two more teams, American Magic and Alinghi. Neither the AC website nor the latest press kit has any information about teams, other than the defender and the challenger of record. In the words of Don Corleone at the meeting of the five families,
‘How did things ever get this far? I dunno. It was so unfortunate, so unnecessary.’ On 15 October Emirates Team New Zealand and Athena Racing,
representing the Royal New Zealand Yacht Squadron and Royal Yacht Squadron respectively, announced their agreement on the terms to form the America’s Cup Partnership (ACP). ACP will have a governance board with each team that enters AC38 having a seat. ACP’s management team will plan, organise and manage the commercial and operational aspects of the event. Grant Dalton said, ‘As other highly successful sports over the
past decade have demonstrated, we believe that by partnering with our fellow teams to establish a more permanent governance and commercial organisation we will collectively realise the incredible global growth and popularity that the America’s Cup and its fans deserve.’ By the time you read these words we will have passed the
31 October deadline for the initial entry period for additional teams, but the protocol allows late entry for another four months, until the end of January 2026. How many teams will we have then? Hark back to 24 January 2017 at the House of Garrard in London.
Five teams – the five families – announced that they had signed the ‘Framework Agreement’ to govern the 36th and 37th America’s Cups, to be held in 2019 and 2021. Russell Coutts said at the announcement: ‘This agreement
12 SEAHORSE
ensures stability, excitement and growth for the future of the America’s Cup, benefiting teams, sponsors and fans alike. This is a momentous step forward and establishes a clear pathway for the next two editions of the Cup, making the event even stronger for generations to come.’ The Framework Agreement’s protocol for AC36 and AC37 reads:
‘The purpose and intent of this Protocol is to continue to develop the America’s Cup as the premier event in the sport of sailing… encouraging worldwide growth and interest in the America’s Cup as a premier sporting event… developing the commercial and media potential for the commercial and sporting success of the America’s Cup while minimising the disruptive and often lengthy and commer- cially damaging protests or other public disagreements over Rules or other legal disputes.’ Of course Emirates Team New Zealand was the only team in the
2017 AC35 in Bermuda not to sign the Framework Agreement, and of course they won. They then introduced the AC75 foiling monohulls and completed their three-peat, defending in Auckland in 2021 and in Barcelona a year ago. So where are we now? Well, let’s see. The AC38 Protocol says,
‘It is intended that there be three initial Preliminary Regattas during 2026 and one possibly in early 2027.’ Remember these regattas may have as few as four AC competitors racing, and perhaps as many as six. Maybe. Meanwhile, SailGP, the offspring of the seemingly stillborn
Framework Agreement, will complete their 2025 season with 12 teams in 12 events. Fourteen teams in 13 SailGP events are con- firmed for 2026 and seven venues are already confirmed for 2027. One might ask if the America’s Cup ambitions and expenses are
right-sized to the revenue and audience potential. The Tour de France reportedly generates an audience of 3.5 billion viewers annually. The Tour de France is a second-tier sports event, with media revenues of under $100 million. Event owner Amaury Sports Organisation probably generates a similar amount from sponsorship and hosting fees from
MARTINA ORSINI
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