New challengers confirmed for AC38 – here's who might be in

The America's Cup Partnership has confirmed that new entries have been lodged for the 38th America's Cup in Naples – though it's keeping the details under wraps for now.

Today marks the late entry deadline of 31 March (extended by two months from the original January cutoff), and with it the ACP has issued a short statement to The Foil:

The plural – ‘entries’ – tells us at least two new teams have joined the five founding ACP members, putting a minimum of seven on the start line for AC38.

So who's in? Officially, we don't know yet. But the gossip has been loud…

Australia: Tom Slingsby and Glenn Ashby are said to be leading a challenge, reportedly having struck a deal to acquire Emirates Team New Zealand's 2021 AC75. If confirmed, it would mark Australia's return to Cup racing after their 2013 campaign collapsed before it really got started.

Czech Republic: Karel Komárek, the Czech billionaire currently residing in Verbier, Switzerland, is said to be bankrolling a new challenge with sailing operations headed by America's Cup and round-the-world veteran Ken Read. The team has reportedly been chasing American Magic's AC75 from the last cycle, with plans to shift to a US-based yacht club. Which would, on paper at least, preserve the 175-year run of American challengers.

Riptide Racing: The American outfit, headed by match racing world champion Chris Poole and aligned with the Seawanhaka Corinthian Yacht Club, went public with their intentions back in December and remain the only late entry to have formally declared. They're targeting $50 million in fundraising – well below the $87 million budget cap – but it's gone quiet since, and there's no word on whether they've hit their target.

UPDATE 1/4: Riptide Racing bows out of AC38 with eyes on the next cycle

Italy: Talks of a second Italian challenge have persisted for months, but nothing concrete has emerged.

All of this comes with American Magic having confirmed they're sitting out this cycle, instead choosing to focus their efforts on SailGP. Their withdrawal from the Cup last October followed a four-month dispute over the protocol and partnership agreement, with skipper Terry Hutchinson citing concerns about "long-term financial sustainability and competitiveness". That means their AC75 is potentially up for grabs – and it's no secret that the Czech team, at least, has been circling.

We'll keep you posted as the teams go public.