AC38 Preliminary Regatta 1 (AC40s)

The 38th America’s Cup cycle is officially underway, and the first real test of the fleet is fast approaching. From 21-24 May 2026, the Gulf of Angels in Cagliari, Sardinia, will host the first Preliminary Regatta of the 38th America’s Cup.

While the main event in Naples in July 2027 is still over a year away, the Cagliari regatta is far from a meaningless exhibition. It’s the first time the teams will line up against each other in this cycle, and the psychological stakes are high.

The racing in Cagliari will be conducted in the AC40s, the fully equalised, one-design monohulls capable of speeds north of 40 knots. When you take away the design advantages of the AC75s, it all comes down to the sailors. It’s a pure test of boat handling, tactics, and raw speed on the water.

The format: up to eight fleet races over the first three days, culminating in a winner-takes-all match race between the top two teams on Sunday 24th May.

One of the most exciting innovations for this cycle is the inclusion of Women & Youth teams. Teams are permitted to enter a second AC40 crewed by their Women & Youth squads. Emirates Team New Zealand, GB1 (via the Athena Pathway led by Hannah Mills), and Luna Rossa are all expected to field two boats in Cagliari – which means we should see an eight-boat fleet on the start line.

Even more interesting: could we see any of the Women & Youth teams unseat the primary America’s Cup crews? There might be some interesting stories coming out of Cagliari…

This Preliminary Regatta won't give the teams any points advantage in the 38th America's Cup. But it will tell us a lot about who is ready to fight for it. It’s a chance to see the new helms in action, to gauge the impact of the off-water drama, and to witness the next generation of foiling talent stepping up to the plate.