Unveiled Exclusively: The America's Cup Agreement Paves the Way for Prize Money in Sailing Competitions
The America's Cup, the world's oldest international sailing competition, is set to undergo a significant transformation as prize money is introduced for the first time in its history. This change comes as part of a new commercial partnership, details of which are yet to be disclosed fully.
The new partnership has been signed by The Royal New Zealand Yacht Squadron and The Royal Yacht Squadron, and brands such as Ineos, Prada, Pirelli, Oracle, Louis Vuitton, Emirates, and Omega have already shown their support by investing millions in sponsorship for the last America's Cup regatta.
The upcoming America's Cup, scheduled to take place in Naples in 2027, will see a change in the boats' crew composition, with each boat having a team of five, including one woman. The final partnership agreement for this new commercial venture is expected to be produced in September.
As many as five or six competitors are already lined up for the 38th America's Cup, with Athena Racing being the British challenger. Entries for the next regatta will open next week.
The America's Cup, which began in 1851, has always been prestigious, but it has not previously paid out official prize money to regatta winners. However, with the introduction of prize money, the stakes have been raised, adding a new and exciting element to the world's oldest international sporting competition.
The winners of the America's Cup will receive prize money as a result of the new commercial partnership. In addition, the boats will have the option to invite a celebrity or VIP onto the racer.
An extra, local, Italian team could potentially join the competition due to the rare occasion of hosting a regatta. Sailing, through SailGP, has become a more investable product in a congested sports market, and this new partnership is a testament to that.
However, the specific prize money structure for the 38th America's Cup remains undisclosed at this time. If new financial details are released, they would most likely come from official America's Cup announcements or governing bodies directly involved in the event.
Despite the prestige and sponsorship, Great Britain has never won the America's Cup. Will Athena Racing break this long-standing tradition in 2027? Only time will tell.
The introduction of prize money as part of the new commercial partnership for the America's Cup raises the stakes in this world-renowned sailing competition, adding an exciting element to the oldest international sports event. The winners of the America's Cup will now receive prize money, signifying a significant shift in the prestigious regatta.
