Louis Vuitton has sponsored sailing’s premier competition since 1983, when the challengers' series became known as the Louis Vuitton Cup.
"The new America's Cup rules define a more commercial approach, and the signed protocol has already been questioned by some of those concerned. Indeed, there is a risk of significant reduction in the number of participating teams," Vuitton said in a statement.
"In these conditions, Louis Vuitton has decided not to lend its name to the next Challenger selection series."
