(Reuters) -The 2027 America's Cup will see a governance change with participating teams set to share equal authority through the America's Cup Partnership as they look to grow the sport globally, organisers said on Tuesday.
ACP will organise and manage the event's on and off-water format and oversee media and commercial rights.
Organisers had already agreed to stick with the AC75 foiling monohull vessels for the 38th America's Cup, which will be held in Naples, Italy in the spring and summer of 2027.
At least one female crew member will be on board the AC75 as part of inclusivity efforts, while a 75 million euros ($87.10 million) cost cap is set for each team to control spending.
"The crew of the AC75s will consist of five sailors, with increased function of the boat powered by battery," organisers said in a statement.
"The nationality clause requires that two sailors plus the female sailor must be a national of the country of the competitor but will allow up to two non-nationals to sail on board as well."
New York Yacht Club (NYYC) commodore Jay Cross said they are "completely supportive" of the move.
The America's Cup, billed as the oldest trophy in international sport, was retained by New Zealand last October in Barcelona when they beat Britain. NYYC are the most successful team with 25 titles.
"As the three-time successive winner and Defender of the America's Cup and along with the RNZYS (Royal New Zealand Yacht Squadron) as current Trustee, we feel the responsibility to continue to drive the growth of the America's Cup event," Team New Zealand CEO Grant Dalton said in a statement.
"Although the America's Cup is the oldest trophy in international sport and the pinnacle of sailing, its Achilles heel has always been its lack of continuity, so this transformation now gives all teams collective stewardship ...
"By negotiating this Protocol and the America's Cup Partnership with the Challenger of Record, it provides certainty for teams, commercial partners, and event venues to invest for multiple editions ..."
Britain’s Athena Racing team is the Challenger of Record for the 38th America’s Cup. Entries open from August 19.
($1 = 0.8611 euros)
(Reporting by Pearl Josephine Nazare in Bengaluru; Editing by Ken Ferris)
