American Magic, the New York Yacht Club–backed syndicate that contested both the 36th and 37th America's Cup cycles, will not challenge for the 38th edition. The announcement came from the team's Pensacola, Florida headquarters on 28 October 2025, following what management described as a "comprehensive review" of the event's structure and economics.
Team Principal Doug DeVos confirmed the decision had been reached only after months of direct engagement with the Defender, the Challenger of Record, and fellow syndicates.
"After extensive engagement, we concluded that the present structure does not provide the framework for American Magic to operate a highly competitive and financially sustainable campaign," DeVos said. "We care deeply about the America's Cup and what it represents, but we don't believe the current conditions support our long-term goals."
Rather than stepping back from high-performance sailing entirely, the team will channel its resources into athlete development and technical innovation, both domestically and internationally. CEO Mike Cazer outlined where that effort is directed.
"Our goal remains the same — to compete and win on the global stage," he said. "That means ongoing investment in sailors, technology, and advanced manufacturing from our Pensacola base."
Founded in 2017, American Magic has supported dozens of U.S. sailors across senior, youth, and women's disciplines, and has played a meaningful role in strengthening elite sailing infrastructure along Florida's Gulf Coast. Partnerships with Olympic programmes form part of that broader commitment, and all of those initiatives will continue regardless of the Cup decision.
Terry Hutchinson, President of Sailing Operations, spoke candidly about the disappointment the decision carries, both within the team and among those who have followed the campaign closely.
“To our teammates, partners, donors, and supporters — thank you for standing with us,” he said. “We could never have accomplished what we have without you. You are a vital part of who we are.”
American Magic's absence from the 38th America's Cup will leave a notable gap in the challenger field, yet the syndicate's sustained investment in the foundations of American sailing points firmly toward a future still unfolding.
