Summary
The America's Cup, the world's oldest sporting trophy, has a new leader for the first time in its 175-year history. Marzio Perrelli, a former Goldman Sachs executive, was named the first CEO of the America's Cup Partnership in 2025. He is now working to turn the historic sailing competition into a modern, predictable, and financially stable global sports event. The Cup recently returned to New York harbor for the first time in nearly 200 years, signaling a new era for the regatta.
Main Impact
For nearly two centuries, the America's Cup was run by the team that won it. That changed in December 2025 when five founding teams created a shared governing body called the America's Cup Partnership. This new structure gives control to the teams collectively, not just the defending champion. Marzio Perrelli was hired by all five teams to lead this new organization. His job is to bring stability, regular scheduling, and commercial growth to a sport that has often been unpredictable and hard to follow for casual fans.
Key Details
What Happened
On July 4, 2026, the America's Cup was brought to New York harbor aboard the Italian Navy's historic tall ship, the Amerigo Vespucci. This was part of the Sail4th naval review celebrating America's 250th anniversary. It marked the first time the Cup had been in New York waters since it was first won there in 1851. The event was a symbolic return to the Cup's birthplace and a chance for Perrelli to showcase the new direction of the competition.
Important Numbers and Facts
The next America's Cup will be held in Naples, Italy, in 2027. This is the first time the event will take place in Italy. Independent estimates say the economic impact for Naples could be around €700 million immediately, with up to €2 billion over the next five to ten years. For comparison, the 2024 edition in Barcelona generated over €1 billion in regional economic impact. The 2027 event will also be the first time all four nations that have ever won the Cup—the U.S., New Zealand, Switzerland, and Australia—will compete in the same edition.
Background and Context
The America's Cup is the oldest international sporting trophy in the world. It was first won by the American schooner America in 1851. For most of its history, the winning team, called the Defender, controlled everything about the next event, including the rules, the boats, and the location. This system often led to long gaps between races and legal fights. The new America's Cup Partnership aims to change that by creating a fixed schedule and a more open, commercial structure. Perrelli compares his role to running a startup, even though the trophy itself is very old.
Public or Industry Reaction
The sailing world has watched the changes closely. The formation of the partnership was seen as a major step forward for the sport. Perrelli's background in finance and media is viewed as a strength, as modern sports require strong business and media partnerships. The return of an American team, called American Racing Challenger, was seen as crucial. Perrelli himself said, "You can't have an America's Cup without an American team. Doesn't make sense." The Italian city of Naples has also shown strong support, with teams already training in the bay and local government investing heavily in the waterfront area.
What This Means Going Forward
Perrelli wants the America's Cup to become a regular, predictable event on the global sports calendar, like the Olympics or the Formula One Grand Prix. He plans to create a biennial cycle so fans know when the next race will happen. He also wants the event to be more than just sailing, with parties, social events, and rivalries that last for months. New rules for 2027 include two fleet races for the first time, a mandatory female sailor on each crew, and a rotating "guest racer" seat. These changes are designed to make the sport more exciting and accessible to a wider audience.
Final Take
The America's Cup is entering a new chapter. By hiring a CEO from outside the sailing world and creating a shared governance structure, the teams are betting that a more business-like approach will secure the trophy's future. Marzio Perrelli brings experience from Goldman Sachs and Sky Sport to a competition that has often been run like a private club. If his plan works, the oldest trophy in sports could become one of the most modern and popular events on the calendar.
Frequently Asked Questions
What is the America's Cup Partnership?
It is a new governing body created in December 2025 by five founding teams. It replaced the old system where the defending champion ran the event alone. The partnership is designed to make the America's Cup more stable, fair, and commercially successful.
Where and when is the next America's Cup?
The next America's Cup will be held in Naples, Italy, in 2027. It will be the first time the event takes place in Italy. Teams are already training in Naples Bay, and the city is preparing for a major economic boost from the event.
Who is Marzio Perrelli?
Marzio Perrelli is the first-ever CEO of the America's Cup Partnership. He previously worked for 11 years at Goldman Sachs and later ran Sky Sport Italia. He was hired by all five founding teams to lead the new organization and modernize the historic sailing competition.
