With the deadline for entries to the 38th America’s Cup approaching – set for March 31, 2026 – rumours are circulating about the possible entry of a new challenge supported by Czech billionaire Karel Komárek. The possibility of participation has emerged in recent weeks within the professional sailing community and was reported by New Zealand journalist Richard Gladwell on Sail-World. According to these reports, the project could involve the formation of a new syndicate with American Ken Read, president of sailmaker North Sails, serving as CEO.
Komárek, an entrepreneur based in Verbier, Switzerland, heads an industrial group active in several sectors – ranging from lotteries and gaming to energy, IT and investments – with an estimated net worth of around 10 billion dollars. In recent months his name has frequently appeared in financial news following the partial voluntary takeover bid launched by his group KKCG Maritime on Ferretti Group. The transaction has drawn market attention to the Czech group’s industrial strategy, a development that PressMare is following closely.
In the sailing world, Komárek is known as the owner and helmsman of the maxi WallyCento V, with Ken Read on board in the role of tactician. Wally Yachts is a brand of the Ferretti Group, whose board includes independent director Stefano Domenicali, President and CEO of Formula 1, where Komárek is also involved through the partnership of his lottery company Allwyn.
An existing AC75 or a new boat?
Participation in AC38, however, presents a significant technical hurdle. The rules require new teams to own an AC75 that has already raced during the 2024 America’s Cup cycle. Five of the six yachts used in the last edition are already in the hands of teams registered for the next campaign.
Alternatively, the rules allow debuting teams to build a new AC75 based on a 2024 design, although the time required for design and construction makes this option particularly challenging from a scheduling perspective.
The only yacht theoretically available would be that of American Magic, which initially stated it had no intention of selling it. In recent months, however, there have been rumours of negotiations for the acquisition of American Magic’s AC75-related assets by more than one team. In particular, attention has focused on the Riptide Racing challenge led by match-racing champion Chris Poole. The entry deadline had been extended to March 31 precisely to allow this new American challenge to participate, but with two weeks remaining before the deadline there has been no official confirmation. Rumours of a possible Australian challenge and a second Italian entry have also not been confirmed.
Komárek’s financial strength and Ken Read’s professional standing could therefore shift the balance in favour of the Czech entrepreneur. However, there is considerable confidentiality surrounding the project, and it remains unclear which yacht club might issue the challenge or who could take the roles of skipper and helmsman.
Moreover, the partial takeover attempt involving Ferretti Group places additional and more immediate deadlines on Komárek. The acceptance period for the offer opens on March 16 and is scheduled to close on April 13, 2026, subject to extensions, with payment of the consideration expected by April 20.
The racing calendar
The schedule for the 38th America’s Cup foresees the final match series taking place from July 10 to July 18, 2027. Several preparatory events are planned before then. The first preliminary regatta will be held in Cagliari from May 21 to May 24, 2026, with teams racing on AC40 foiling monohulls.
The dates for the Louis Vuitton Cup – the Challenger Selection Series that will determine the official challenger of the Defender – as well as the final preliminary event in 2027, which will be sailed on AC75 yachts, have yet to be announced.
Giuliano Luzzatto