After months of tumbleweed, there has been a flurry of America’s Cup news from both organisers and teams.

Ahead of a gathering today between the five ‘founding teams’ of the new America’s Cup Partnership in the host city of Naples, the British squad got their news out first this morning.

Sir Ben Ainslie’s team – the Challenger of Record, representing the Royal Yacht Squadron in Cowes –  revealed their new name GB1, complete with patriotic red, white and blue styling.

GB1 also confirmed that Dylan Fletcher, Olympic gold medallist, SailGP reigning champion helmsman and Ainslie’s co-helm in the 37th Cup will return to helm for the 38th America’s Cup.

No surprises there – although also no word on who’ll be sitting on the opposite wheel. Ainslie has mentioned in several interviews that he may not be back in an active sailing role – but equally nor has he definitively ruled it out.

Eyes on the prize… Dylan Fletcher will helm GB1 in the 38th America’s Cup. Photo: Ian Roman/GB1

British America’s Cup talent

Ainslie, whose official job title now is Team Principal for GB1, said in today’s news release: “GB1 is delighted to secure Dylan as our helm for AC38.

“He has worked extremely hard to earn the seat, and his results on the water don’t lie. Olympic and SailGP champion, and an America’s Cup finalist all in the space of five years, these are no mean feats and highlight his absolute dedication to performance on the water.”

Fletcher said: “I’m buzzing to be back in the America’s Cup with the British Challenger. Reaching the final last time out was a great achievement for the team, but getting so close drives us on even more.

“I know how committed the whole organisation is to winning the Cup for Britain. There is a huge amount of work to do, and I can’t wait to get stuck in.”

Fletcher, Ainslie and team mates celebrate winning the Luis Vuitton Cup as INEOS Brtannia in the 37th America’s Cup. Photo: Ricardo Pinto / America’s Cup

Ainslie’s phrase ‘delighted to secure’ is unlikely to be accidental. With the loosening of the nationality rule in the AC38 Protocol (the so-called ‘Burling clause’ which enabled the three-times Cup winning helmsman to move from New Zealand to Italian Challengers Luna Rossa), and the recent flurry of ‘athlete transfers’ in SailGP, locking key team members in will have been a big focus for all teams.

One such transfer was Iain ‘Goobs’ Jensen – a key member of the INEOS Britannia British America’s Cup squad, as well as wing trimmer for the season winning Emirates GBR SailGP team (also run by Ainslie and helmed by Fletcher). He has since departed the British SailGP team for Slingsby’s Australian team.

British Youth Team applications open

Again, no surprises that Hannah Mills has been confirmed as helm for the second edition of the Women’s America’s Cup and Team Principal for the British women’s and youth Athena Pathway Programme.

Today in Naples Mills also opened the British application process for the Youth Team – they’re looking for talented, high potential sailors born between 1 July 2001 and the 1 July 2008. See the application criteria here,

Who’s backing the British Cup team?

The fact that the two British squads have two different identities – GB1 and Athena Pathway, albeit both under the ‘Athena Sports Group’ – points to their different funding.

Just before Christmas, the team revealed that the America’s Cup Challenge had secured majority ownership investment from Oakley Capital, a private equity firm headed up by businessman and yachtsman Pete Dubens – who was also one of the founding backers of Ainslie’s first ‘BAR’ America’s Cup challenge for AC35.

Oakley Capital also own North Technology Group, which includes North Sails and Southern Spars, as carried by every AC75 and AC40.

In November, former North Sails UK manager Ian Walker was appointed CEO of Athena Racing (as it was known then). This also raises the question of, whether freed from the conflicting demands of being CEO, team boss and skipper, Ainslie might find his role is once again back in the sailing team…

Ian Walker and Sir Ben Ainslie as Walker joins Athena Racing (now GB1)

In an interview with The Times today, Ainslie revealed that he had personally funded the team for 14 months following the acrimonious fall-out with previous backers INEOS and Sir Jim Ratcliffe.

With the rebrand, GB1 is not currently carrying a title sponsor at all, but it’s understood they are still very much looking for commercial partnerships.

Interestingly, the Women’s and Youth seems to have been an easier sell – Ainslie told me months ago that they had secured funding for the Athena Pathway programme, and Mills’s squad has backing from another private equity firm, Advent, and defence/technology company Cobham Ultra.

Naples’ impressive history was on show as organisers and teams gathered on January 21, 2026 to confirm the dates of the 38th America’s Cup. Photo: Ian Roman / AC38

Bringing in backers

Despite the oft-repeated message that the new ACP is all about financial security, the Brits aren’t the only team who are yet to carry full title sponsorship.

Today Cup defenders New Zealand confirmed that their title sponsor will be airline Emirates, who have renewed their partnership for an impressive fifth Cup cycle. And the Swiss entry is titled Tudor Team Alinghi (having apparently dropped the Red Bull F1 tie-in from AC37).

However, the Italian entry is currently simply ‘Luna Rossa’ and the French ‘K-Challenge’.

As part of today’s official event at Naples, though, Louis Vuitton was confirmed as title sponsor for the 38th America’s Cup event.

Founding members of the America’s Cup Partnership (ACP) and title sponsor Louis Vuitton at Palazzo Reale in Naples. Photo: Ian Roman / America’s Cup

When is the 38th America’s Cup?

The other major announcement in Naples was confirmation that the Cup Match will begin on Saturday July 10, 2027 and will be wrapped up by 17-18 July 2027.

There is no word yet on the dates for the Challenger Selection Series.

This follows last week’s confirmation that the first preliminary regatta of AC38 will take place in Cagliari, Sardinia, on 21-24 May 2026 in the one-design AC40s.

The ‘shoulder season’ prevailing winds in Cagliari at that time of year could make for some spicy sailing conditions. Up to 10 races are planned over four days, with the top two teams then racing in a deciding winner-takes-all single match.

Up to three Preliminary events may be held in 2026 – we’ll report on any further date and venue announcements.