Grant Dalton, New Zealand’s chief executive, last week announced Naples as the host venue for the 38th America’s Cup, describing it as a “spectacular” venue and adding that further details on the planning of the event “would be announced in due course”.
As well as clarification on the protocol and the class rules, teams are still waiting to learn when in 2027 the Cup will take place, where in Naples the bases will be, how the allocation of bases will work, and what other liabilities they may have.
Athena Racing, who race under the banner of the Royal Yacht Squadron, lost backer Sir Jim Ratcliffe earlier this year after the Ineos co-founder and Ainslie fell out over the future of the team. Like other challengers, they are trying to attract new sponsorship for the next Cup, which is difficult without any certainty about what it will look like.
Ineos initially said it would challenge independent of Ainslie and the RYS, but still in partnership with Mercedes F1. But it pulled out of the running last month, saying the six-month delay to agreeing a protocol had “undermined their ability to prepare for the next Cup”.
‘Sporting framework does not yet exist’
In their statement, Athena Racing said they had no issue with Naples as a venue, but said it was too soon to commit to one.
“While we have every confidence that Naples can be a magnificent host for the America’s Cup, we believe that transparency and cooperation between the defender and all challengers is vital for the Cup’s future and therefore the recent announcements from the defender are premature, at best.”
Athena added that they were “concerned by the ongoing lack of transparency… and the impact this is having on the main goal of negotiating a fair sporting protocol”.
“For seven months Athena Racing has been in negotiations on a protocol for the 38th America’s Cup with the defender, Team New Zealand, on behalf of all the challengers with the aim to deliver a fair sporting framework and commercially viable event for all America’s Cup stakeholders. Despite recent progress being made, significant barriers remain.
“Typically, a host agreement has only followed the publication of an agreed protocol. In the absence of an agreed protocol, it is therefore difficult to understand what exactly has been agreed between Team New Zealand and the Government of Italy as the sporting framework and details of the event do not yet exist.
“Any hosting agreement will bind challengers to financial and organisational obligations, as well as potential liabilities, making its disclosure fundamental to teams’ participation and commitment to the 38th America’s Cup.”
American Magic hint at pulling out
In a separate statement, American Magic said they were of the same opinion as Athena Racing.
“As we look ahead to the 38th America’s Cup, we find ourselves at a crossroads and feel that we must provide an update to our team-mates, partners, donors, and supporters,” they said.
“Despite the best efforts of the challengers – led by the challenger of record – to negotiate in good faith, the defender has been unwilling to commit to the transparency and cooperation necessary to secure a fair protocol. Without the structural framework necessary for challengers to pursue viable campaigns, it will remain extremely difficult to unlock the America’s Cup’s potential as a modern, globally relevant sports property.
“We continue to support the challenger of record in their efforts to secure an open and balanced protocol, as without the meaningful changes they are advocating, it is difficult to see how NYYC American Magic can participate in the 38th America’s Cup.
“While we remain committed to the America’s Cup and would welcome the opportunity to compete under a fair protocol, we are equally committed to integrity, transparency, and the long-term health of the institution that is the America’s Cup. We urge the defender, as trustee, to work in good faith with the challenger of record to restore the elements of fair competition, transparency, and respect for all sailors, globally, who are ultimately the beneficiaries of this time-honoured trust.”
