The Italian coastal city of Naples has been chosen to host the 2027 edition of sailing's iconic America's Cup.

New Zealand, winner of the previous America's Cup – which took place in Barcelona, Spain, in October last year – decided not to stage the next edition of the event in Auckland (as was revealed in late March), with Italy instead securing hosting rights for the first time (although, technically, it will still be hosted by Team New Zealand).

The America's Cup organizers have now said that the Naples bid provided "a clear ambition to leverage the America’s Cup as a means to modernize the city’s infrastructure while honoring its history."

While Naples has never before hosted the showpiece America's Cup race itself, it has hosted two America's Cup World Series events to date, in 2012 and 2013.

Attempts by Team New Zealand to bring the event to Auckland in two years' time were rejected by that country's government, with the team confirming at the end of March that the necessary government funding would not be granted.

Team New Zealand are double defending champions, having won the 2021 event in Auckland before defending their title in Barcelona last year.

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In announcing that the 2027 regatta would not be held off the coast of Auckland, Team New Zealand said in a statement: "While the significant economic benefits of hosting the America’s Cup and other major events are well proven, such as €1.034b ($1.15 billion) of economic benefits in Barcelona in 2024, we understand there are other priorities for the New Zealand Government right now.”

It was reported at the time that Team New Zealand was looking for around NZ$150 million in funding to stage the next edition of the regatta.

At one point, Saudi Arabia was reportedly being considered as an alternative option for the 2027 America's Cup.

Now, Italy's minister for sport and youth, Andrea Abodi, has said: "The choice of Italy, and Naples in particular, as venue of the 38th edition of the America’s Cup represents a tremendous opportunity for the entire country to enhance the value of its territory, to boost tourism, and to promote sports. Our commitment will be also to promote initiatives, projects, and measures for sea education and economy."

Grant Dalton, chief executive at Team New Zealand, added: "Italians are the most passionate and engaged America’s Cup audience and it is the home of [Italian team] Luna Rossa who are such an amazing team and strong competitor. So, from the defender’s position, it certainly feels like we are entering the lion’s den competitively, but from an event perspective, it feels like the perfect venue to host the Louis Vuitton 38th America’s Cup."

For the 2024 America's Cup, the stable of commercial partners included brands such as French cognac brand Hennessy, French IT firm Capgemini, global drinks giant Coca-Cola, Italy-based banking and financial services firm UniCredit, and Catalan beer brand Estrella Damm.