Stars+Stripes USA have confirmed their commitment to mounting a challenge for the America's Cup, despite the New York Yacht Club deciding to "pause their involvement" in the 37th edition of the regatta.
After being represented by American Magic in Auckland for the 36th America's Cup, the New York Yacht Club appeared to be set to instead link up with the second US challenge in Stars+Stripes USA for the next edition.
However, the club has since decided against moving forward with mounting a challenge, leaving the syndicate in limbo.
"We are disappointed that NYYC reversed its decision to participate in the next cycle of the America's Cup," Stars+Stripes USA co-chief executive Mike Buckley said.
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"However, nothing has changed for Stars+Stripes USA; we remain even more committed to competing in AC37 in order to change the sport of sailing in the US.
"We will continue building a diverse team that reflects our country and represents modern American values. We will expand our ecosystem of partners and move forward with expanding the AI technology that we initiated from AC36 that will be required to win in 2024."
The syndicate now find themselves in the same position as American Magic, needing to find a yacht club to represent in the regatta. While they were not going to be representing the NYYC this time around, it is understood American Magic fully intend to be on the starting line – wherever that may be – in 2024.
In announcing the reasoning behind the NYYC's decision to pause their involvement with the cup, Commodore Christopher J Culver noted the ongoing delays with announcing a venue and uncertainty around the details of the regatta.
Team New Zealand were expected to reveal the venue for the event midway through last month however that date was pushed out to allow them to "continue to work through final details and provide further information required for their respective bids" while also provide time to do their due diligence on a late New Zealand-based bid.
It is believed Saudi Arabia, Ireland and Spain are the three contenders to host the regatta, with Team New Zealand recently ceasing all correspondence with the New Zealand-based bid. There remains no set date for a venue announcement, however the protocol is expected to be released on time in November.