Following the announcement of the host venue for the 38th America’s Cup NYYC American Magic has released the following statement:
Over the past seven years, we’ve competed with pride, purpose and perseverance in two editions of the America’s Cup. It has been an honor to represent the New York Yacht Club and the United States on the global stage in one of the most storied competitions in sport.
As we look ahead to the 38th America’s Cup, we find ourselves at a crossroads and feel that we must provide an update to our teammates, partners, donors and supporters.
Despite the best efforts of the Challengers – led by the Challenger of Record – to negotiate in good faith, the Defender has been unwilling to commit to the transparency and cooperation necessary to secure a fair Protocol. Without the structural framework necessary for challengers to pursue viable campaigns, it will remain extremely difficult to unlock the America’s Cup’s potential as a modern, globally relevant sports property.
We continue to support the Challenger of Record in their efforts to secure an open and balanced Protocol, as without the meaningful changes they are advocating, it is difficult to see how NYYC American Magic can participate in the 38th America’s Cup.
While we remain committed to the America’s Cup and would welcome the opportunity to compete under a fair protocol, we are equally committed to integrity, transparency and the long-term health of the institution that is the America’s Cup. We urge the Defender, as Trustee, to work in good faith with the Challenger of Record to restore the elements of fair competition, transparency and respect for all sailors, globally, who are ultimately the beneficiaries of this time-honored trust.
