The America’s Cup has entered a bold new era with the release of the Protocol for the 38th edition, and it’s nothing short of revolutionary. A new governing body — the America’s Cup Partnership — will run the event, promising continuity, a two-year cycle, and more transparency than ever before. Defenders Emirates Team New Zealand and Challenger of Record Athena Racing have given up traditional powers in favour of stability, cost controls, and broader commercial appeal. The changes are sweeping: existing AC75s will be reused, budgets capped at €75m, cyclors replaced by batteries, and at least one female sailor mandated on every crew.

Justin Chisholm is joined by Andy Rice (sailjuice.com and Road To Gold) and Dave Reed (editor at Sailing World Magazine) to dissect what’s gained, what’s lost, and who the big winners could be. From Pete Burling’s shock switch to Italy to the looming SailGP rivalry, this Protocol sets a dramatic course for Naples 2027.

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