The Protocol for the 38th America’s Cup was unveiled in August, with several major changes, including the event being held every two years. Stephan Kandler, co-director of K-Challenge, which supports both the Orient Express Racing Team and the French SailGP team, explains the new rules for Tip & Shaft and discusses this dual project, one week before the SailGP French Grand Prix in Saint-Tropez (12-13 September).
Although defender Emirates Team New Zealand had committed to publishing the Protocol for the 38th America’s Cup before 30 June, it did not do so until 12 August. What was the hold-up?
I can’t give you very precise answers, but it can mainly be explained by the fact that there were differences of opinion on certain changes communicated by Team New Zealand and the British (Athena Racing, the challenger of record), which were aimed at making the event more commercial – a vision we agreed with, and the Protocol as it had been defined suited us. Everyone agreed on the principle of changing the format of the Cup, but it is not a trivial matter to amend a document that is 174 years old and enshrined in American law [the Deed of Gift], especially for an event that has a particular way of operating. So, inevitably, it took longer than expected and, as in any negotiation, there are those who are intransigent and those who are more open to compromise, so some parties had to agree not to get everything they wanted. The important thing is that we reached a solution that was satisfactory for everyone. That was not a foregone conclusion. If we put the eleven Formula 1 teams around a table to agree on a set of rules, do you think we would easily reach an agreement? No! It was a bit like that here.
What was your vision for the Cup on the French side?
For us, unlike others, as a team sponsored by private partners, our motto was clearly to offer them greater visibility, particularly by creating stability that would allow for better anticipation. Even though we weren’t the only ones advocating this, we believe that our point of view was heard. The fact that the America’s Cup now takes place every two years makes the event much more predictable. It also means lower costs – notably with the AC75s being retained and the requirement to keep the same hull for existing challenges – thus avoiding an arms race that could go very far. We can only welcome the rule that means teams’ budgets are no longer unlimited [they cannot exceed €75 million, editor’s note].
How many challenges would have taken part in the last edition with this limitation?
(Laughs) That’s a very good question! In my opinion, two: us and probably Team New Zealand.
“Our job is to anticipate
so that we are ready on the big day”
One of the main new features is a shared governance between all challenges within America’s Cup Partnership. How will this work?
I am not authorised to discuss this, but the principle of collective governance has been agreed upon. That’s also why the discussions took longer than expected. We had to agree on the operating procedures, with the aim of creating a dynamic in which the event could no longer be blocked. That could have been the case until now, as we saw that if a challenger of record didn’t want to sign, it posed a problem. Involving everyone in the rules and organisation is something really new. I believe that the America’s Cup has now definitively entered the 21st century and modernity. And we must give credit to Team New Zealand for agreeing to give up some of its power and rights as defender for the good of the event.
Now that the Protocol has been unveiled, are you sure that the French challenge will be present in Naples in the spring of 2027?
I will only be able to answer that question when we have the final rules – and when I say rules, I mean not only the Protocol, but also the racing rules, the measurement rules and the precise contours of the America’s Cup Partnership. We are not going to ask partners to commit until that is the case; we are not sponsored by a private individual who will commit no matter what happens. But we have put everything in place to make it happen. Our job is to anticipate so that we are ready on D-day, when we press the button. We are extremely optimistic about our participation, but we are not going to boast because with the America’s Cup you always have to be extremely cautious. I am in a good position to know this. In 2007, I convinced people, I had €60 million on the table and I lost everything because the America’s Cup took an unexpected turn.
“The French SailGP team
is 100% funded and profitable”
In the meantime, you are competing in the SailGP circuit with the French team, which notably welcomed Kilian Mbappé as a shareholder. Is it now fully funded?
Yes, today, with our partners, it is 100% funded and profitable, bearing in mind that we operate a little differently from some teams in the sense that everyone makes an effort internally. It’s important to understand that in SailGP, new teams often have to invest heavily to catch up with those who, like us, have been on the circuit for longer. That doesn’t stop us from continuing to look for partners to strengthen the team, but with what we have, we’ve managed to find a good balance.
For how long?
Our presence is guaranteed for at least three years. Where SailGP has brought about a revolution is that the circuit is here to stay, with a recurrence that allows brands to have real visibility over the long term. This has never been the case with the Cup, for reasons we all know. All this has been achieved thanks to Larry Ellison and Russell Coutts, who have provided the financial backing over the long term to allow the concept to develop. The complementarity between the America’s Cup and SailGP is a real asset, with the same level of competition and a different concept – and it needs to stay that way so that the two don’t tread on each other’s toes. It’s like competing in the Champions League and the World Cup with the same players. It’s very interesting for our sport and, in fact, when I spoke to Bruno [Dubois, co-director of K-Challenge, editor’s note] before we joined forces, I told him that I would only leave if we built something that would keep people coming back. We’ve managed to do that, because we now have different events to compete in, between the America’s Cup, SailGP and the circuits where we can field our Akademy. Now, the next step is to win titles.
Photo : Alexander Champy-McLean / Orient Express Racing Team
