The Royal New Zealand Yacht Squadron (RNZYS) and Emirates Team New Zealand are pleased to confirm that the RNZYS has accepted a Notice of Challenge for the 38th America’s Cup (AC38) from the Royal Yacht Squadron Limited, represented by INEOS Britannia, which will act as the Challenger of Record for AC38.

The parties are already working together to pave the path ahead for the 38th America’s Cup building on the success of the Louis Vuitton 37th America’s Cup in 2024.

“As Emirates Team New Zealand’s AC75 crossed the finish line on Saturday 19th October, The Royal New Zealand Yacht Squadron received and accepted a challenge for the 38th America’s Cup from our long-standing British friends at Royal Yacht Squadron Limited”, said Gillian Williams – RNZYS Commodore. “It is great to once again have the RYS involved, given they were the first yacht club that presented this trophy over 173 years ago, which really started the legacy of the America’s Cup. Along with Emirates Team New Zealand we look forward to building on the already strong foundation that working together on the 37th America’s Cup has created and will continue working through the details of the next event with them.”

It has been agreed that AC38 will be a multi-Challenger event and having lodged the first challenge the Royal Yacht Squadron Limited has been appointed the Challenger of Record. In particular the following has been agreed:

(a) The class of yacht shall be the AC75 and teams will be restricted to building one new AC75 for AC38;

(b) The existing Crew Nationality rule in the AC37 Protocol will be retained with the Emerging Nations provisions to be reviewed;

(c) It is intended that the AC38 Match be held within three years of the completion of the AC37 Match subject to any adjustments needed for the hemisphere in which it is to be sailed with the Venue to be announced by the Defender within eight months of the final race of the AC37 Match and a Protocol also published as soon as practicable within that period.

(d) The following restrictions shall apply on the sailing and testing of AC75 and AC40 yachts:

No sailing of AC75 yachts for a period of 12 months from the date of the final race in the AC37 Match except when participating in any Preliminary Regattas which may be organised with a dispensation for the earlier sailing of AC75s by new teams;
No development on LEQ Yachts but no restriction on the sailing of “in class” AC40 yachts
A limit on the total number of sailing days in AC75 yachts to be introduced
The Defender and COR have agreed to investigate and where appropriate implement other meaningful campaign cost reduction measures including a budget cap and carbon cap for teams and to work on a strategy to further commercialise the America’s Cup.

There is an intention to increase the number of Preliminary Regattas to provide more regular racing during the AC38 cycle with a mixture of AC40 & AC75 racing, with both fleet racing and match racing formats being considered for the AC40's and AC75's.

Both the Defender and COR are committed to building on the success of the AC37 Women’s and Youth America’s Cup events.

Further details regarding the anticipated event timetable, venue and related matters will be announced in due course.

“We are delighted to have been accepted by the Royal New Zealand Yacht Squadron as the Challenger of Record for AC38 following on from our successful partnership throughout the 37th America’s Cup,” said Bertie Bicket, Chairman, Royal Yacht Squadron Ltd. “We are fully committed to working with the Defender to agree a Protocol aimed to encourage more participant Challenger countries and further promote and expand both the Women’s and Youth America’s Cup events.”

“The 38th America’s Cup effectively started the moment the team crossed the finish line in Barcelona on 19 October” said Emirates Team New Zealand CEO Grant Dalton.

“It is very exciting to have continuity with the Challenger of Record, INEOS Britannia, to continue to build the scale of the America’s Cup globally. The third generation AC75’s and the unprecedented broadcast reach of the Louis Vuitton 37th America’s Cup in Barcelona has been hugely beneficial to this unique sporting event, and we look forward to announcing future plans in due course.”

“The 37th America’s Cup proved to be huge success both on and off the water, showcasing the unique value of the America's Cup as a global sporting property. We look forward to supporting the Defender in developing the continued growth of the Cup for AC38 and into the future,” said INEOS Britannia CEO & Team Principal, Ben Ainslie.