America’s Cup Days Numbers As Biggest Team Pulls Up Stumps

For the first time in 175 years, there won’t be an American boat chasing the Auld Mug.

The New York Yacht Club’s American Magic has withdrawn from the 2027 America’s Cup in Naples, blaming an unsustainable structure and a format that, in their words, no longer supports a financially or competitively viable campaign.

For a country that built the Cup’s legend, that’s a staggering admission and a warning that the world’s oldest sporting trophy might be losing its shine.

The problem isn’t passion. It’s the price tag. Fielding a competitive America’s Cup team now costs north of $200 million once you add boat design, data science, travel, crew, and testing.

The 2027 “reform” a so-called America’s Cup Partnership intended to make the event more commercial and collaborative has only made things murkier. Instead of the old winner-takes-all model, control is split between the Defender (Team New Zealand), the Challenger of Record, and the rest of the fleet.

On paper it spreads risk. In practice, it dilutes accountability and adds bureaucracy. Sponsors are left wondering who’s really steering the ship.

American Magic’s exit isn’t an isolated squall either. Britain’s INEOS Britannia has also stepped back amid internal reshuffles, while Red Bull’s Alinghi has publicly questioned the financial model. It all points to a regatta drifting away from what once made it great: national pride, singular leadership, and the intoxicating gamble of going all in to win.

Today, the Cup feels more like a corporate board meeting with sails.

Meanwhile, SailGP has stolen the wind. Co-founded by Larry Ellison and Russell Coutts, it offers everything the Cup used to speed, rivalry, and national pride minus the politics.

The boats are identical, the racing is furious, and the audience is growing fast. With celebrity owners like Hugh Jackman and Ryan Reynolds backing teams, SailGP has turned sailing into a global entertainment product that actually makes sense to watch.

Team New Zealand still builds the fastest boats in the world, but dominance breeds apathy. The America’s Cup is supposed to inspire nations, not bankrupt them.

Until the structure changes, expect more billionaires to quietly furl their sails. The sport has moved on. The Cup hasn’t.