America’s Cup makes bid to ensure long term future

By the Editorial Team · Thursday, September 17, 2026

Five international sailing teams competed in the first preliminary regatta for the 38th America’s Cup off southern Sardinia, showcasing hydrofoil boats under a new, more sustainable competition format. The event highlights significant reforms including a €55 million team cost cap, a more inclusive approach with increased female participation, and a fixed biennial schedule aimed at broadening competitors and securing the Cup’s future appeal.

In the waters off southern Sardinia’s Bay of Angels, five sailing teams recently competed in the first preliminary regatta ahead of next year’s 38th America’s Cup, set to take place in Naples. Representing Italy, Great Britain, New Zealand, France, and Switzerland, the yachts raced on hydrofoils, skimming above the waves in a display attracting hundreds of predominantly Italian spectators. This event marks a new chapter for the America’s Cup, the world’s oldest international sailing competition, which is undergoing significant structural and regulatory changes aimed at ensuring its long-term viability.

Marzio Perrelli, who was appointed chief executive of the America’s Cup Partnership just a month before the regatta, described the event in Cagliari as a promising indicator of the scale and appeal the main competition in Naples will offer. Perrelli, a former investment banker and media executive, emphasized that the Cup’s nearly 175-year heritage—historically shaped by the winner determining the venue and rules for the next event—was evolving into a more modern and sustainable format.

After more than a year of intensive negotiations and previous failed attempts at reform, a new governance model and set of rules were agreed upon last year. Central to these reforms is a cost cap of €55 million per team, intended to make participation more accessible and attract a broader field of competitors beyond billionaire-backed entries. The impact has already been felt, with seven teams confirmed for the Naples event—including new entrants from Australia and the United States—compared to the three initially expected.

Grant Dalton, chief executive of Emirates Team New Zealand, which has won the last three Cups, acknowledged the necessity of the changes to preserve the competition’s future. He noted the previous costs and New Zealand’s dominance discouraged new teams, and that the new model, with a shared decision-making process between all teams, brought welcome consistency. Under the revised calendar, the Cup will occur every two years with smaller regattas in between, replacing the former variable schedule.

Sir Ben Ainslie, skipper of the British team GB1 and the official challenger succeeding to New Zealand, highlighted the importance of continuity and momentum. Ainslie noted that previously the Cup lacked a structured timeline and rule stability, which made it less relevant in the gaps between events. He also pointed to the significance of private equity investment, such as Oakley Capital’s backing of the British team, as evidence that the new partnership structure is financially credible.

The competition is also placing greater emphasis on inclusivity and development pathways. British programs like the Athena Pathway, launched in 2022, aim to broaden access by training youth and female sailors, departing from the traditional reliance on veteran Olympic medalists. Recent rule changes have increased female participation, including requirements for women on SailGP boats since 2020, the introduction of a women’s America’s Cup in 2024, and women making up one-fifth of sailors in the main event.

Youth sailors like Sam Webb have begun to benefit from these initiatives, gaining opportunities to compete at high levels through open recruitment and training programs. Meanwhile, the rise of SailGP, a fast-paced foiling catamaran league with 13 international teams, has helped modernize sailing’s appeal and influenced the America’s Cup’s adoption of faster, technologically advanced boats. This shift has drawn new audiences and helped secure the tournament’s future as a commercially viable and spectator-friendly event.

Organizers aim to build on the momentum seen in Sardinia, with the next preliminary regatta scheduled in Naples, promising a dramatic setting with Capri as a backdrop and the expectation of large crowds. The ongoing reforms and growing interest from new markets and investors reflect a concerted effort to balance the America’s Cup’s rich tradition with contemporary sporting and business realities.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.