The class rule for the AC75 has been released, meaning Team New Zealand can go from developing the rule to developing the boat.
Team New Zealand released the rule overnight, which was developed in conjunction with challenger of record Luna Rossa. It provides the framework for each team competing in the 36th America's Cup to develop their vessels.
The rule has strict limitations on the number of components that can be built including hulls, masts, rudders, foils, and sails, encouraging teams to do more research and development in simulation and subsequently less physical construction and testing.
Challengers will be supplied foil arms and cant systems to save design time and construction costs, while rigging will also be supplied.
Team New Zealand designer Dan Bernasconi said the release of the rule marked a turning point in preparation for the 2021 regatta.
"Overnight we have to completely change our thinking, from trying to write a fair rule, to doing our best to design the fastest boat within the constraints of the rule," he said.
"We have to stop thinking about what we intended the rule to mean, and start trying to pick it apart for what the words actually say - and see where there might be room to squeeze some advantage."
Teams will have a year to develop their vessels, with the first AC75 yachts to be launched on March 31, 2019.
Crews will be made up of 11 sailors, although a guest racer may also be welcomed on board at the discretion of the regatta director.
The class rule may be amended at any time before June 29 jointly be Luna Rossa and Team New Zealand for any reason, or at any time with the unanimous consent of the other teams competing.