America's Cup: First private sale of an AC40 is announced - four more teams sought
by AC40 Class 6 Feb 2024 03:47 PST
Emirates Team New Zealand - Day 2 - Preliminary Regatta - Jeddah, Saudi Arabia - December 1, 2023 © Ian Roman / America's Cup
The AC40 Class Association announced that it has received its first built slot deposit from private owners.
The confirmation of the first private team to join the AC40 Circuit is major step forward for the Association as it establishes the new AC40 Class.
Committed to being the first fully privately owned AC40 yacht, the new team will join the 11 other AC40 yachts already on the water. While wishing to remain anonymous at this stage, the long-running and experienced team says it recognizes that the sport of sailing is changing and, like other industries, it must stay at the forefront of technology and teamwork to create something truly exciting.
This latest development is testament to the hard work of the designers, Emirates Team New Zealand, the builders, McConaghy Boats, class manager, Luca Rizzotti and head of sales, Sam Pearson, in capitalizing on the unique opportunity with the AC40 to get things off the ground.
“For us, the easy logistics coupled with the incredible racing we have seen in Jeddah - often doing more than three times the wind speed - made this a simple decision."
“We have also ordered a simulator so we can start training and developing the skills ahead of the boat’s arrival,” said a spokesperson of the team.
In addition to securing its first private owner, the AC40 Class confirms it has received four expressions of interest from current AC40 teams who have expressed their intentions to race with one or both of their AC40s. The expectation is that the AC40 team owners will also be behind the wheel.
Luca Rizzotti, comments: “As interest continues to grow for the AC40 Class, close to a dozen venues have approached us confirming their interest to host events in late 2024 and 2025 and with easy shipping and logistics for the AC40, some of these venues are incredibly exciting places to sail.
“Now we have confirmed the Class governance and format for racing, we are also starting to develop the commercial opportunities that these boats and this Class is already creating, as we want to establish a class that is just as attractive off the water as it is on.”
Sam Pearson adds: “This is a huge stepping-stone for us in launching the new Class, but our target still remains to sign up four private owners for AC40s before the boats’ construction starts. This way it does not expose any individual owners and will give the Class huge foundations for growth over the next 5-10 years.”