Since 1851, the America's Cup has been presented to the winner of a sailing race, making it the oldest trophy in international sport. The race is held between two yachts, one sailed by the previous winner and the other by a challenger. The competition began when a group of businessmen sailed from New York to England for the 1851 World's Fair. During the event, their schooner won a race around the Isle of Wight against a British yacht, winning the first £100 cup. The name of the winning yacht was 'America', which subsequently gave its name to the competition.

American sailors continued to win the America's Cup for the next 132 years until an Australian yacht claimed the Cup in 1983. Since its very beginning, only four nations have won the Cup: the United States, Australia, New Zealand and Switzerland.

Since there is no fixed schedule, races are held several years apart on dates agreed between the defender and the challenger. As of 2021, 36 races have been held, with New Zealand defending the last trophy against Italy. A proposed date for the next competition is set for 2024.

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