The 1962 America's Cup, the second to be sailed in 12-meter yachts, marked the first challenge for the Cup from a country other than Great Britain or Canada, and was the first challenge from a country in the southern hemisphere. An Australian syndicate headed by Sir Frank Packer, representing the Royal Sydney Yacht Squadron, challenged with their yacht Gretel. Although the New York Yacht Club won the regatta four races to one represented by the yacht Weatherly, the challenger, Gretel won the second race, beating the Americans for the first time since the 1930s, and only lost the fourth race by twenty-six seconds. The NYYC was so shocked at the closeness of the contest that they immediately changed the rules to ban the use of American design and technology by Cup challengers.
The NYYC ran a regatta to determine the yacht they would name as defender in the match. Competing were Weatherly, with Emil (Bus) Mosbacher, Jr. at the helm, Easterner, Columbia, skippered by Paul V. Shields, and Nefertiti, helmed by sailmaker and naval architect Ted Hood. Weatherly was chosen as the defender.
The America's Cup, affectionately known as the "Auld Mug", is a trophy awarded to the winner of the America's Cup match races between two sailing yachts. One yacht, known as the defender, represents the yacht club that currently holds the America's Cup and the second yacht, known as the challenger, represents the yacht club that is challenging for the cup. The timing of each match is determined by an agreement between the defender and the challenger. The America's Cup is the oldest international sporting trophy.
The trophy was originally awarded in 1851 by the Royal Yacht Squadron for a race around the Isle of Wight in England, which was won by the schooner America. The trophy was renamed the America's Cup after the yacht and was donated to the New York Yacht Club (NYYC) under the terms of the Deed of Gift, which made the cup available for perpetual international competition.
Any yacht club that meets the requirements specified in the Deed of Gift has the right to challenge the yacht club that holds the Cup. If the challenging club wins the match, it gains stewardship of the cup.
The 2017 America's Cup will be the 35th edition of the America's Cup yacht race. It will be held in June 2017 and be contested between the winner of the 2017 Louis Vuitton Cup and Oracle Team USA. It will be Oracle's second defense of the America's Cup, four years after its first successful defense.
In June 2014, media reported the venue of the 34th America's Cup, San Francisco, was no longer in consideration to host the 35th edition. San Diego, Chicago and Bermuda were listed as being still in the running.
In July 2014, americascup.com reported the candidate venues had been shortlisted to Bermuda and San Diego, with Chicago being dropped from the running.
On 2 December 2014, Bermuda was announced as the host of the 2017 America's Cup. The Premier of Bermuda, Michael Dunkley, welcomed the teams, sponsors, and spectators at a press conference in New York.
The financial package included in the bid by Bermuda is worth approximately $77 million US Dollars. Dr. Grant Gibbons, Bermuda's Minister for Economic Development, has stated that the America's Cup has a possibility of generating up to a quarter of a billion US Dollars in revenue.
The 1899 America's Cup was the 10th challenge for the Cup. It took place in the New York City harbor and consisted of a best of five series of races between the defender, Columbia, entered by the New York Yacht Club, and Sir Thomas Lipton's Shamrock, representing the Royal Ulster Yacht Club. Columbia won all three races against Shamrock.