America's Cup: New York Yacht Club issues statement on Cup "pause"

New York Yacht Club is represented in the 2021 America's Cup by its team American Magic © Dan Nerney

The New York Yacht Club have issued a statement covering their decision not to continue with their participation in the 37th America's Cup, despite having issued a Challenge, a draft Protocol, and severed their relationship with two American challenging teams.

The statement says:

Yesterday, in a letter to the Trustees of the New York Yacht Club, the Flag Officers of the Club announced the Club was pausing its pursuit of the America's Cup.

Quotes from New York Yacht Club Commodore Christopher J. Culver

"There are few private clubs that enjoy a stronger bond with a single competition than the New York Yacht Club does with the America's Cup, which we founded and held for 132 years. However, we ultimately have a responsibility to act in the best interests of our membership. Given the continued uncertainty regarding the 37th America's Cup, we have decided to pause our challenge for this edition."

"For more than six months, the New York Yacht Club along with other potential challengers have waited for clarity regarding the venue, timing and rules for the 37th America's Cup. Time is never on the side of new teams in this great contest, but at some point, we must recognize when there simply isn't enough of it left to build a competitive challenge."

"We will continue to advocate for what we believe to be essential changes to the structure of the America's Cup. This evolution will retain the competition's unmatched history and appeal while enabling it to compete on today's increasingly competitive modern sports landscape. Our passion for this competition remains as strong as ever."

"Stars+Stripes USA, led by members Mike Buckley and Taylor Canfield, will carry forward with their plans to challenge for the 37th America's Cup. We wish them the best of luck. They represent the future of American yachting."

Sail-World notes:

The timeline of America's Cup Venues, Class and Protocol announcements, and time lapsed, for AC35, 36 and 37:

• September 25, 2013 - GGYC successfully defends America's Cup in San Francisco

• June 4, 2014 - GGYC release Protocol for AC35 (8 months)

• June 6, 2014 - GGYC release AC60 class rule (8 months)

• June 9, 2014 - GGYC opens entries for AC35 (8 months)

• December 12, 2014 - GGYC announces Bermuda as venue for AC35 (15 months)

• March 31, 2015 - GGYC permits Class Rule to be changed to AC50 (18 months)

• June 26, 2017 - RNZYS wins America's Cup in Bermuda

• September 29, 2017 - RNZYS/CVS releases Protocol (3 months)

• March 26, 2018 - Host Venue Agreement signed for Auckland (9 months)

• March 29, 2018 - RNZYS/CVS releases AC75 Class Rule (6 months)

• March 17, 2021 - RNZYS defends the America's Cup

• March 19, 2021 - Challenger of Record confirmed, AC75 class use confirmed, nationality rule key points (2 days)

• September 17, 2021 - Projected date of venue announcement - not achieved (6 months)

• November 17 - 2021 - Projected date of Protocol for AC37 announcement (8 months)