Sailing, there is agreement between the teams for the America's Cup Partnership
The America's Cup Partnership will be led by a new board of directors, in which each team will have a seat, which will establish an independent management team focused on commercial growth, long-term investment in the event and the teams, ongoing technical development and innovation in the America's Cup competitions, which will be held every two years
The dream slowly comes true: that of many sailors to have a 'fair' America's Cup, i.e. one where it is not just the Defender who has the burdens and honours, but one that is run by all participants and thus also the Challengers.
Defender Emirates Team New Zealand (Royal New Zealand Yacht Squadron) and Challenger of Record Athena Racing (Royal Yacht Squadron) were the first to sign the complex document that will regulate the activities of the America's Cup Partnership, which will have control over the event. The other challengers have until 31 October to sign and file their entry forms.
We arrived at the document, almost 800 pages, after a complex process in which every actor has always had something to say and raise. There is a complexity due to the "egos", always protagonists, and one linked to objective legal problems due to the fact that for the next Cup, scheduled to be held in Naples in 2026, three different economic and legal worlds have to be put together: the American one, where the Partnership was founded and where the Supreme Court has an open eye on the Deed of Gift, the English one where the company managing the sponsors and image rights should be based, and finally the Italian one, for the America's Cup Event Italy company that will physically organise the event on our territory.
For the lawyers halfway around the world, it was quite a headache, and it is not certain to go unchallenged: some might raise their hands and say that what is happening is not in accordance with the mythical Deed of Gift. Indeed, in order to stay within the dictate and not change the Deed of Gift of the Cup, a fine legal engineering rigmarole was set up, if one can call it that.
In order to secure the future of the Cup, if this is to be the future, it will be advisable to arrive at a modification of the deed of donation so as to close the door to any contestation. Does everyone like what happens? No: making the Cup a stable circuit is a bit like taking away from Paris Roubaix the 50 kilometres of cobblestones that make that effort unique. The stability of the event is fine for some aspects, such as ensuring a constant income from sponsors, well-planned investments, but not for all. The content of legend, and also of injustice, is a non-trivial part of the game.
