A landmark agreement has been reached between Emirates Team New Zealand and Britain’s Athena Racing to form the America’s Cup Partnership (ACP), creating the first shared governance and commercial body in the 174-year history of the event.
The deal, finalised this week in New York, sets a new course for the world’s oldest international sporting trophy. For the first time, all teams competing in the Louis Vuitton 38th America’s Cup will take part in the long-term planning and management of the event.
The ACP will operate as a central organisation representing all teams, overseeing commercial growth, investment, and innovation. Each syndicate will have a seat on the new board, which will appoint an independent management group to coordinate event operations, partnerships, and technology development.
This shift marks a significant step away from the traditional Defender-Challenger model, which has historically governed the Cup on a cycle-by-cycle basis. Instead, the new structure aims to provide financial stability, encourage wider participation, and promote continued technical evolution between Cup cycles.
Emirates Team New Zealand CEO Grant Dalton said the partnership recognises the value tied up in both the event and team technology.
“The America’s Cup has long been managed on an event-by-event basis without a structure to plan for the long-term,” Dalton said. “By partnering with fellow teams under a single governance and commercial organisation, we can unlock the global growth and popularity the Cup and its fans deserve.”
Athena Racing CEO Sir Ben Ainslie called the formation “a truly historic moment” for the sport.
“For the first time, teams are uniting not just as rivals on the water, but as shared stakeholders in its future,” Ainslie said. “It marks the start of an exciting new era for fans, partners, and the sport of sailing.”
Royal New Zealand Yacht Squadron Commodore David Blakey described the process as “a monumental task” and said both clubs were proud to have guided the event into a shared future while maintaining the Deed of Gift and traditional principles of the Cup.
The America’s Cup Partnership will come into effect on 1 November 2025, with entries for the next event closing the day before. Planning is already underway for the 2027 America’s Cup in Naples, including the design of the Bagnoli event site and preliminary regatta venues for 2026 and 2027.
