New sponsor approach for America’s Cup
Published on October 24th, 2022
The Challenger Selection Series for the America’s Cup has been named the Herbert Pell Cup (1958–1980), Louis Vuitton Cup (1983–2017), and Prada Cup (2021), and there will be new sponsor names for the 2024 events as defender New Zealand pursues additional funding.
As reported by Stuff media, Italian fashion giant Prada was squeezed out of the next regatta in Barcelona, with the decision by Prada ending an acrimonious period between the Italian syndicate Luna Rossa Prada Pirelli and Cup champions Emirates Team New Zealand.
While terms are not revealed, the Kiwis apparently see huge benefit in a new multi-level Olympics-type sponsorship setup for the Cup’s return to the European market which they believe could allow them to fully fund the team and the event.
The new arrangement will see separate sponsorships for the Match, the challenger series, the hydrogen chase boat project, the youth and women’s America’s Cups, an E-Sport championship, and an America’s Cup tour of the Catalonia region, as well as a category of global sponsorships.
“We have completely re-engineered our sponsorship model since Auckland. That model was based on the relationship around the Prada domination of all properties, it was broken and needed a new approach,” Team New Zealand boss Grant Dalton told Stuff. – Full report
Following the publication of the AC37 Protocol and AC75 Class Rule on November 17, 2021, the AC75 Class Rule and AC Technical Regulations were finalized on March 17, 2022. The entry period opened December 1, 2021 and runs until July 31, 2022, but late entries for the 37th America’s Cup may be accepted until May 31, 2023. The Defender was to announce the Match Venue on September 17, 2021 but postponed the venue reveal, confirming it would be Barcelona on by March 30, 2022. The 37th America’s Cup will be held in September/October 2024.