Hogan Lovells supports Athena Racing partnership

Global law firm Hogan Lovells is taking a pivotal role in a transformative chapter for the America’s Cup, the world’s longest-running international sports trophy. The Defender, Emirates Team New Zealand, representing the Royal New Zealand Yacht Squadron, and the Challenger of Record, Britain's Athena Racing representing the Royal Yacht Squadron Ltd, recently formalised terms to establish the America’s Cup Partnership during negotiations hosted by Hogan Lovells in New York last week. This innovative governance model aims to unite all teams competing in the upcoming Louis Vuitton 38th America’s Cup, facilitating a collective approach to governance and enhancing the event's growth.

This landmark agreement is historic as it marks the first time in the America's Cup's 174-year existence that competing teams have come together under a unified governance and commercial structure. This partnership will enable the teams to manage events collectively, share financial resources, and engage more effectively with their global fanbase.

The America’s Cup Partnership will be guided by a newly established governance board with representatives from each team, which is tasked with forming an independent management team that will prioritise commercial growth, long-term investments, and ongoing technical innovation within the America’s Cup. The event will now be held every two years, ensuring a sustained momentum in competitive sailing. Teams interested in joining the America’s Cup Partnership have until 31 October 2025 to enter AC38.

Michael Kuh, New York Office Managing Partner at Hogan Lovells, expressed his enthusiasm for the occasion, stating that “The America’s Cup is a global competition, bringing together competitors and fans from around the world. Likewise, this transaction has been a global endeavor, with advisors from a number of critical jurisdictions and practice areas participating.” He added that the partnership is a “landmark moment” that reflects the firm’s reputation in managing high-profile and complex issues while enhancing international sailing's future.

Counsel Steven Palyca also shared his sentiment: “Supporting Athena, including in its capacity as the current Challenger of Record, has been an honor. Taking a step back and considering the long and venerable history of the America’s Cup, knowing that the America’s Cup Partnership will play a key role from AC38 onwards is particularly rewarding, if a bit humbling.”

Athena Racing’s CEO, Sir Ben Ainslie, who is also a four-time Olympic Champion and America’s Cup winner, emphasised the significance of the partnership, stating that “The America’s Cup partnership marks a truly monumental step forward in the event’s history, addressing 174 years of historical governance while respecting its ethos and developing a modern framework.” He acknowledged the complexity of the process, expressing gratitude, “Achieving this was complex, and we needed the very best legal advice. Hogan Lovells more than delivered.”