News & Updates
American Magic Signs Agreement with Port of Pensacola
American Magic, the US Challenger for the 37th America’s Cup, recently unveiled a landmark collaboration with the Port of Pensacola and City of Pensacola. This partnership signifies a monumental stride in the team’s pursuit of building a premier high-performance sailing franchise in the United States while igniting economic vitality and community enrichment in Pensacola, FL.
Through this partnership, American Magic has secured a lease agreement with the City of Pensacola to establish a high-performance sailing center at the Port of Pensacola. This cutting-edge facility will serve as its headquarters for designing, building, hosting regattas, and developing the current and next generation of America’s Cup, Olympic, and International sailors.
Under the lease, the team will pay $291,200 per year for 10 years, and the lease includes a renewal clause allowing it to go to 20 years.
The new facility will retrofit the uncomplete Warehouse No. 10 at the Port of Pensacola to become a 64,000-square-foot facility.
Pensacola Mayor D.C. Reeves said it was an exciting day for everyone in his administration.
“It’s something we’ve been working on for almost the entirety of this administration to make something happen for our community that can be transformational,” Reeves said.
“This partnership with the City of Pensacola is an extraordinary opportunity for American Magic to amplify its commitment to sailing excellence,” said Terry Hutchinson, Skipper, and President of Sailing Operations for American Magic. “We are excited to build our headquarters in Pensacola and to contribute to the thriving community. Pensacola Bay offers the perfect natural amphitheater to host sailing races from America’s Cup and Olympic Classes to Junior Sailing.”
The facility will provide American Magic with the infrastructure necessary to support all facets of its operations, including boat storage, maintenance, and repair, as well as state-of-the-art office and training amenities. Moreover, it will facilitate the expansion of its research and development endeavors, propelling innovation in sailing technology.
“One of our core objectives has always been longevity; we are dedicated to building a team for the long term,” said Hap Fauth, American Magic Team Principal. Echoing Fauth’s comments, fellow Team Principal Doug DeVos added, “While events and regattas may come and go, our focus is on establishing a winning team that endures and stands the test of time. Having a home base is crucial in achieving this vision.”