<P> On 19 July 2014 Russell Coutts, Director of the America's Cup Event Authority (ACEA), announced that the Hamilton Island Yacht club had withdrawn Team Australia from the 35th America's Cup . Team Australia claimed that the entry fee rules agreed to in the official protocol created too much risk due to the uncertainty of the then unknown venue and schedule of the event . </P> <P> The Challenger of Record Committee (CORC) represents all of the challengers' interests and negotiates with Oracle over mutual concerns . Luna Rossa replaced HIYC as the challenger of record . In April 2015, Luna Rossa withdrew its challenge bid, pulling out of the 2017 America's Cup in protest at rule changes reducing the size of the boats . </P> <P> On 5 June 2014, it was announced that the regatta would be sailed in 62 - foot - long (18.9 m) foiling catamarans, the AC62 . The entry fee was $3 million . Each challenging team could build only one boat while Oracle Team USA could build two . A nationality rule was agreed, requiring 25 percent of the crew to be from the entry's country . This nationality rule had been lifted prior to the 2003 America's Cup . The rules specified the combined weight of the crew could not exceed 525 kg . The neutral International adjudicating yachting panel was dropped in favour of a three - man panel appointed by the defender . </P> <P> In March 2015, the teams voted to reduce the size of the boats to the 45 - to 50 - foot range, leading to the withdrawal in protest of Luna Rossa . This in turn led to a joint statement from four teams attacking Team New Zealand which had supported Luna Rossa . </P>

What kind of boats are in the americas cup