America's Cup

The America's Cup is a sailing competition and the oldest international competition still operating in any sport. America's Cup match races are held between two sailing yachts: one from the yacht club that currently holds the trophy (known as the defender) and the other from the yacht club that is challenging for the cup (the challenger). The winner is awarded the America's Cup trophy, informally known as the Auld Mug. Matches are held several years apart on dates agreed between the defender and the challenger. There is no fixed schedule, but the races have generally been held every three to four years. The most recent America's Cup match took place in March 2021.

Any yacht club that meets the requirements specified in the deed of gift has the right to challenge the yacht club that currently holds the cup. If the challenging club wins the match, it gains stewardship of the cup. From the first defence of the cup in 1870 until the twentieth defence in 1967, there was always only one challenger. In 1970 multiple challengers applied, so a Challenger Selection Series was held to decide which applicant would become the official challenger and compete in the America's Cup match. This approach has been used for each subsequent competition.

The history and prestige associated with the America's Cup attracts the world's top sailors, yacht designers, wealthy entrepreneurs and sponsors. It is a test of sailing skill, boat and sail design, and fundraising and management skills. Competing for the cup is expensive, with modern teams spending more than $US100 million each; the 2013 winner was estimated to have spent $US300 million on the competition. The America's Cup is currently held by the Royal New Zealand Yacht Squadron, who successfully defended the 36th America's Cup in March 2021 using an AC75 foiling monohull called Te Rehutai, owned and sailed by the Team New Zealand syndicate. The next America's Cup will be held between the defending Royal New Zealand Yacht Squadron and a challenging yacht club from 12 October 2024 in Barcelona, Spain. Both the 37th and 38th America's Cup matches will be sailed in AC75 class yachts.