In a press release issued today the team laid out its plans to mount a challenge ahead of the AC38 late entry deadline of January 31, 2026 with a fundraising budget set at $50 million.
Joining the fundraising effort of this campaign will be the team's partner 501(c)(3) foundation, The American Sailboat Racing Foundation, which has supported Riptide Racing in past money raising efforts.
Poole from Westport, Connecticut started sailing at the age of ten in an Optimist out of Portland Yacht Club in Falmouth, Maine. A top name on the World Match Racing Tour, in 2023 the Riptide Racing skipper and CEO won the 57th Congressional Cup in a 24-race clean sweep, and currently sits atop the WMRT 2025 standings.
"To compete in the Americaʼs Cup has always been a dream and my goal when we created Riptide Racing,ˮ said Poole. “Our focus is to take our winning formula and bring it to the pinnacle of yacht racing.ˮ
“The USA has been immersed in the Americaʼs Cup since the beginning, and in recent years the shift to foiling has opened new opportunities for sailors, and brought in new followers to the Cup.
“With the possible absence of an American team in the next Cup, the country involved in the competition’s founding, there's an opportunity for new American sailors like the team from Riptide Racing to continue the campaign and bring the Auld Mug back to the United States.ˮ
According to today’s release, the team plans to acquire an existing AC75 package and support assets from an Americaʼs Cup team in order to get immediate access to proven assets, design data, and infrastructure.
Seawanhaka Commodore Julian Fisher said the club was excited to support the Riptide Racing effort to try and challenge for the 38th America's Cup.
“Riptide Racing has been the number one team in match racing for the past four years, and as we all know, the America's Cup is still a match race,” he said. “The club will do everything it can to support Chris and his team to get this challenge off the ground by the January 31, 2026 Entry Deadline.”
Further details of the campaign are expected in due course.
