American Magic announced on Tuesday, October 28, that they would not be participating in the 38th America’s Cup in 2027 in Naples. To find out more about this withdrawal, Sailorz spoke with the French engineer Dimitri Despierres, head of the mechatronics department for the US challenge.
How did you learn of this decision?
Through a video conference, 24 hours before the announcement, which brought together the core group of about forty people who had continued to work since the end of the Cup and until July, mainly on design tools, but also the boat-builders still active at the Pensacola base. Doug (DeVos, the challenge owner) explained the ins and outs of this decision not to move forward in the America’s Cup.
Was it a surprise?
We knew since the end of June that the question of participation was being raised, insofar as it was subject to a Partnership being established—which happened with the recent announcements. Knowing that it was Doug DeVos who, during the last Cup and at the end, had brought the challengers together to further professionalize and commercialize the event, so that it would become more financially viable for the participants. We knew it was 50/50, but when you see time passing, you understand that if you’re not fully engaged while Prada (Luna Rossa) or Team New Zealand are, you’re just falling behind. So at one point, I started to have big doubts, but I still found it hard to believe that we wouldn’t go, in the sense that, with the new rules, I didn’t see any obstacle to us being competitive for the next edition. When you have these assets, that you don’t have to build a hull, but “just” to manufacture foils, with the added possibility of being competitive in terms of sailors, you tell yourself that the Cup won’t ultimately cost you much, so you ask why you aren’t going.
And did you get the answers?
You have to understand that during the first American Magic campaign, there were three financiers, Doug DeVos, Hap Fauth, and Roger Penske, from IndyCar. For the second campaign, on the 37th Cup, the latter had already withdrawn, and in the end, we clearly understood that Hap Fauth would not be part of the next campaign; he is quite old (almost 80), has given a lot, and wanted to turn the page. So Doug was left alone. Americans do not really have a culture of seeking sponsors; they are more inclined to find millionaire or billionaire allies in their New York Yacht Club networks or in their business. I think Doug DeVos didn’t find this ally and didn’t feel comfortable going without the financial certainty of doing the 38th and 39th, because one wouldn’t go without the other. However, he assured us that the current assets would remain with American Magic and were not for sale. Even if nothing is decided, it is also not ruled out that there could be a women’s crew on the Women’s America’s Cup in Naples, or even a crew on the Youth. Now, if there is no American team on the 38th, it will be the first time since the event’s creation in 1851…
“I think we were
on an upward trend”
There may be points that have not been explained to us. Again, Doug was at the foundation of this Partnership. Until then, when you didn’t win the Cup, you were left with nothing. So Doug, but also Ernesto (Bertarelli, boss of Alinghi), wanted to put something in place so that all the challenges would be shareholders and stakeholders in the decisions. The idea was to say: “Let’s not be losers, but all winners.” Why did they ultimately consider that this wasn’t enough? I don’t know the answer, but in any case, we didn’t have any concrete elements from the Partnership that would have been blocking points.Is this a disappointment for you?
It’s a disappointment not to continue with American Magic on the Cup because from my point of view, we had a great group and I think we were on an upward trend that could have turned into something very good on the 38th. So I inevitably have a feeling of unfinished business. Now, from a personal point of view, I am far from being the worst off; I am lucky enough to already have a lot of work and requests, which I can’t even respond to.
Speaking of which, has your phone rung since the announcement on Tuesday?
(Laughs). It was ringing before and it continues to ring! This concerns projects outside the Cup, because I waited for American Magic’s decision to discuss with other teams. Now, if your question is whether my involvement in the 38th is possible, I say yes. I remain very interested in trying to win the Cup with a challenger, firstly because I am still just as passionate, and secondly because I cannot imagine missing this edition in Naples which will once again be incredibly interesting.
“SailGP is gaining market share”
That would depend a lot on the people at the head of this French challenge.And the current one?
No, I don’t think so.
You spoke of other projects outside the Cup that you are working on, can you tell us more?
I am collaborating on projects that run partly until almost 2028/2029; I have committed to a minimum of 50% of my time for this, even if everything is always debatable. I can only say two things: one is with the company Caponetto/Hueber, the second concerns Ultim ocean racing.
So American Magic has withdrawn, Alinghi probably too, we don’t see new challenges arriving; how do you explain this and should we worry about the future of the Cup?
Today, we cannot say that the Cup costs more than on the previous edition or when it was in monohulls. To be present at the next edition in Naples, it’s a maximum of 70 million euros. Beside that, a license on SailGP is 30 million euros; we clearly understand that this circuit is gaining market share and that if nothing is done, in a few years, there will not be much interest in the Cup anymore. It is an event that allows much more development and has more aura, but it is clearly in competition and will struggle to survive if it does not go beyond the public interested in sailing. Even when I meet people who follow sailing, I notice total confusion between the two events; sometimes, they don’t even know on which boat the Cup is raced. There is a real communication problem, with an added competitor that has a higher frequency since SailGP returns every year. So the Cup needs to reinvent itself, even if, personally, I remain convinced that it is a great event, in which we see things that do not exist anywhere else.
Photo : American Magic
