The world’s most prestigious sailing trophy is stepping away from its tradition of solitary leadership in favor of a corporate, collaborative future. The America’s Cup Partnership (ACP), a newly minted governance entity designed to modernize the competition, has appointed Marzio Perrelli as its first chief executive.
Perrelli, an Italian executive with a pedigree spanning high finance and global media, officially assumes the role today. He steps into a leadership structure where Grant Dalton, the longtime CEO of Emirates Team New Zealand, will continue to serve as the chairman of the ACP.
The appointment signals a strategic pivot for the America’s Cup. For over a century, the burden of organizing the event fell almost exclusively on the defending champion. Under the new ACP framework, that weight is now distributed across a collective of the sport’s most influential teams, aiming to replace the volatility of individual cycles with a stable, long-term business model.
A blend of finance and broadcast expertise
The selection of Marzio Perrelli suggests the ACP is prioritizing commercial scalability and media reach over traditional sailing administration. Perrelli arrives with a background that mirrors the complexity of the modern sporting landscape, having navigated the corridors of Goldman Sachs and HSBC across the United Kingdom, United States, and Italy.
But, it was his move into the media sector in 2018 that likely cemented his candidacy. As executive vice president at Sky Italia, Perrelli managed the entire Sky Sports division. His tenure there involved overseeing editorial and production teams while aggressively managing a high-stakes sports rights portfolio—skills that will be critical as the ACP seeks to expand the Cup’s global audience.
“The America’s Cup is the oldest and most prestigious competition in international sport. Our responsibility today, on behalf of all stakeholders, is to preserve its deep heritage while ensuring greater continuity, stability and long-term growth,” Perrelli said regarding his new role. “The America’s Cup Partnership represents an evolution in how the event is managed, providing a more consistent framework for teams, partners and host venues, while fully respecting the sporting tradition that defines the cup.”
Dismantling the ‘Defender’s Burden’
The formation of the ACP in December represents one of the most significant governance shifts in the history of the event. Traditionally, the winner of the Cup held nearly total control over the rules and organization of the next edition, often leading to legal disputes and financial instability for the challengers.
The ACP changes this dynamic by establishing a collective framework. This new system introduces shared revenue and strict cost control measures, designed to ensure that the competition remains a contest of innovation and skill rather than a war of attrition between the deepest pockets.
| Team | Nationality | Status |
|---|---|---|
| Emirates Team New Zealand | New Zealand | Defending Champion |
| Athena Racing | Great Britain | Challenger of Record |
| Luna Rossa | Italy | Founding Partner |
| Tudor Team Alinghi | Switzerland | Founding Partner |
| K-Challenge | France | Founding Partner |
The road to Naples 2027
The immediate focus for Perrelli and the ACP is the 2027 edition of the America’s Cup, which is set to take place in Naples, Italy. To provide a more predictable rhythm for sponsors and teams, the event will transition to a biennial schedule starting in 2027.
Beyond the logistics, the event is preparing for a cultural shift. For the first time, women will be onboard America’s Cup yachts, a move Grant Dalton describes as a changing sporting landscape that presents a “huge opportunity” for the sport’s growth.
Commercial momentum is already building. The ACP has secured television rights with the Italian broadcaster Rai, a move intended to amplify the event’s visibility in one of sailing’s most passionate markets. The partnership also includes a commitment to fostering the next generation of sailors through dedicated women’s and youth category competitions.
“The formation of the ACP offers surety and continuity over future regattas and initiatives,” Dalton said. “Signing TV rights with the likes of Italian broadcaster, Rai, will further amplify initiatives already in place. Marzio joins at the perfect time with all the credentials to take the event and the sport forward.”
While the framework is in place, some uncertainty remains. Even though the ACP provides a pathway for more teams to join the partnership, neither Tudor Team Alinghi nor K-Challenge has formally confirmed their participation for the Naples event.
The next major milestone for the ACP will be the finalization of the 2027 regatta protocols and the confirmation of the full team roster for the Naples circuit.
Do you think a corporate partnership model will save the America’s Cup or strip away its historic allure? Share your thoughts in the comments below.
