SAN DIEGO (AP) Five of the six America's Cup teams have signed a framework agreement that would lock in the current class of boats and a time frame for the next two regattas.
While the agreement is commercially attractive, Emirates Team New Zealand did not sign it and the agreement would be moot if the Kiwis win the America's Cup in Bermuda this summer.
The agreement was announced Wednesday at London's House of Garrard, the jeweler that in 1848 crafted the silver trophy that became the America's Cup. Signing it were two-time defending America's Cup champion Oracle Team USA, Britain's Land Rover BAR, SoftBank Team Japan, Team France and Sweden's Artemis Racing.
Emirates Team New Zealand says it believes any future America's Cup format should be decided by the defender and challenger of record ''as it has historically been.''