The Americas Cup is the most famous and most prestigious competition in the sport of yachting, and the oldest active trophy in international sport, predating the FA Cup by two decades and the Modern Olympics by 45 years. The sport attracts top sailors and yacht designers because of its long history and prestige as the Holy Grail of yachting. Although the most salient aspect of the regatta is its yacht races, it is also a test of boat design, sail design, fundraising, and managing people. The cup is named after the first yacht to win the trophy, the schooner America. The trophy remained in the hands of the United States from 1851, when it won the first race, until 1983 when the Cup was won by the challenger, Australia II from Australia, ending the longest winning streak in the history of sports.

The Americas Cup regatta is a challenge-driven yacht series that involves a best of 9 series of match racing (a duel between two boats). Since the 1992 match, the regatta has been sailed with the International Americas Cup Class sloop, a monohull boat that has an average length of about 75-feet. Any challenger who meets the requirements specified in the Deed of Gift, which governs the regatta, has the right to challenge the yacht club that holds the Cup. In 1995 as a response to multiple challengers and questions as to how the next challenger would be selected, the Louis Vuitton Cup was created as a fair way to determine who will become the official challenger of the Americas Cup. The Americas Cup is a race between the winner of the Louis Vuitton Cup and the current holder. If the challenging team wins the cup, the cups ownership is transferred from the defenders yacht club to the winning teams yacht club.

The Americas Cup series of races, particularly Dennis Conners quest to regain the Cup after losing it to Australia and winning it back in the subsequent series, was used as the inspiration for the 1992 film Wind.