American Magic Statement on the 38th America's Cup - 29 May 2025
by American Magic 29 May 16:17 BST
Luna Rossa and American Magic congratulate each other - Semi-Finals - Louis Vuitton Cup - Day 14 - September 19, 2024 - Barcelona © Ian Roman / America's Cup
American Magic would like to put on record its support for the issues raised today by former America's Cup winner Alinghi regarding the governance and administration of Team New Zealand for the 38th edition of the America's Cup and the Challenger Selection Series, both scheduled to be held in the spectacular Gulf of Naples in 2027 and formally announced in Naples yesterday.
Ever since the completion of the 37th America's Cup last year, we have been concerned about the Defender's unwillingness to commit to the transparency and cooperation necessary to secure a fair Protocol for the 38th running of our sport's greatest event.
In particular, we are concerned that Team New Zealand is not faithfully fulfilling its fiduciary duties as Trustee of the Cup. Notably, its decision to unilaterally agree a host venue deal with the Italian government and city of Naples, effectively selling the Challenger Selection Series without the consent of the Challenger of Record, Athena Racing. Its consistent failure to provide information relating to its responsibilities and duties as Trustee raise serious doubts over Team New Zealand's willingness to operate with the necessary openness and integrity.
We continue to support the Challenger of Record in their efforts to secure a fair and balanced Protocol, a transparent governance model, and an effective America's Cup Partnership that benefits all stakeholders. Until such a framework is agreed, American Magic will not commit to participation in the 38th America's Cup Challenger Selection Series.