An unexpected American bid brings new energy to AC38 as Riptide Racing races the clock to secure funding, assets, and a place on the start line.
Riptide Racing America’s Cup bid puts a new contender on AC38’s horizon
An American syndicate has finally stepped forward for the 38th America’s Cup. Riptide Racing, led by world match racing number one Chris Poole, announced its intention to mount a challenge within the past 24 hours. The timing is tight, the budget is large, and the effort comes as the Cup faces the unusual prospect of a cycle without a confirmed United States challenger.
Riptide’s move shifts the tone around AC38. It adds a name to a space many assumed would remain empty, and it does so with clear urgency. The team must lodge a funded entry by 31 January 2026, leaving only a few weeks to complete a list of tasks that established teams typically spend years preparing.
For now, the intent is there. Whether it becomes a full campaign depends entirely on what happens next.
A fast-track plan built around a proven AC75
Riptide’s proposal is straightforward. Rather than designing from scratch, the team plans to acquire an existing AC75 package along with the surrounding data and infrastructure. It is a practical path for a first-time entrant. A proven platform shortens the climb to competitive speed, reduces early risk, and allows the team to begin training without waiting for a new boat to be built.
The campaign is backed by Seawanhaka Corinthian Yacht Club, one of the oldest clubs in the United States. Riptide says preliminary discussions with the event organisers suggest the current rules and protocol create a workable entry point for new challengers.
The foundation is set. The hard work begins immediately.
Chris Poole: world match racing number one steps into the Cup arena
Chris Poole has spent the past four years ranked at the top of the global match racing leaderboard. He grew up sailing small boats on the coast of Maine before sharpening his tactical instincts at Maine Maritime Academy and the Chicago Match Race Center. His progression has been steady and determined, built on repetition, travel, and the relentless pressure of one-on-one racing.
His breakthrough results include the Thompson Cup, Chicago Grand Slam, and a string of podium finishes across the World Match Racing Tour. In 2023, he and Riptide delivered a rare unbeaten run at the Congressional Cup, finishing 24–0.
Poole sees the Cup as the natural next step.
“To compete in the America’s Cup has always been a dream,” he says. “Our focus is to take our winning formula and bring it to the pinnacle of yacht racing.”
Match racing instincts remain central to AC75 competition, although the scale and speed of foiling monohulls introduce a new level of complexity. Poole’s confidence comes from his track record under pressure, not from familiarity with the AC75 platform. This marks one of the most significant transitions of his career.
Funding and time: the two hardest hurdles
Riptide has set a fundraising target of USD 50 million for its first-phase entry. The number is realistic for reaching the start line but leaves little room for delay. Large campaigns often exceed USD 100 million across the full cycle, especially once design, shore facilities, support staff, and testing programmes are added.
Buying an existing AC75 lowers the barrier to entry, but it does not remove the need for a design and performance group capable of evolving the platform. Without development, a team risks being locked to the pace of the previous cycle.
The late-entry deadline offers no flexibility. Riptide has weeks, not months, to assemble funding, finalise agreements, secure a base, and complete its crew roster. Late campaigns have succeeded in the past, but none have had the luxury of slow decision-making.
This is the steepest part of the climb.
The core sailing group
Poole is joined by a group of sailors with strong international pedigrees:
- Mal Parker — among the top trimmers in the world, with America’s Cup and offshore experience.
- Luke Payne — a highly regarded grinder with time in the America’s Cup and SailGP.
- Matt Cornwell — veteran bowman with multiple Cup cycles behind him and deep rules knowledge.
- Joachim Aschenbrenner — a tactician who has worked closely with Poole since 2019 and brings both helming and tactical experience.
It is an experienced nucleus, built around sharp boat-handling and match racing communication.
Two roles remain unfilled: the female athlete and youth athlete positions mandated under AC38 rules. Riptide has not indicated who may join the group or how they intend to approach selection.
A historic club returns to the Cup conversation
Seawanhaka Corinthian Yacht Club, founded in 1871, brings a long heritage to the bid. Its name last appeared in Cup news more than a century ago, during the era of the Seawanhaka Rule, which helped shape the early foundations of yacht design in the event.
The club’s Commodore, Julian Fisher, says Seawanhaka is committed to giving Riptide every chance to meet the January deadline.
“Riptide Racing has been the number one team in match racing for the past four years,” he says. “The Club will do everything it can to support Chris and his team to get this challenge off the ground.”
It is a rare return to the Cup stage for one of America’s oldest sailing institutions.
Fresh competition invigorates the AC38
A strong American presence has always mattered to the Cup. The United States is tied to the event’s origins, and its absence would leave a visible gap in AC38’s challenger line-up.
Riptide’s bid introduces fresh competition at a time when the challenger field is still evolving. For Emirates Team New Zealand and the other established syndicates, an additional challenger means more testing, more variety on the racecourse, and a stronger narrative leading into Naples.
For New Zealand readers, the significance is simple: the more robust the challenger roster, the sharper the regatta. A late American entry, if it clears the funding hurdle, adds depth and intrigue to a cycle that has been short on surprises.
What Riptide must solve next
A realistic list of immediate tasks:
- Finalise USD 50m funding.
- Confirm purchase of an AC75 package.
- Establish a design and performance unit.
- Recruit female and youth sailors.
- Choose a training base.
- Lodge a compliant entry before 31 January.
None of these steps are optional. All must fall into place quickly.
Where this leaves the story today
Riptide Racing has stepped forward with intent, a structured plan, and a skipper who knows how to win match races under pressure. The next eight weeks will decide whether that intent becomes a full America’s Cup campaign or remains an ambitious announcement.
For now, AC38 has gained a new American storyline, and one worth watching closely.
