The original home of the America's Cup - the New York Yacht Club - has decided not to enter AC37

New York backed the ill-fated American Magic campaign in Auckland with its boat 'Patriot' capsizing and almost sinking during the Challenger series in January.

The agreement to back American Magic expired after the regatta and it's understood the Terry Hutchinson led team has found another as yet unnamed yacht club while retaining its two team Principals.

The New York Yacht club have written to members saying they won't challenge in 2024.

Team New Zealand and INEOS Britannia are due to release the protocol for AC37 next month, while no host venue has been finalised.