Following the 2010 America's Cup, where the Golden Gate Yacht Club's USA 17 trimaran defeated the catamaran Alinghi 5, it was decided by the winners that the next America's Cup competition would be sailed in catamarans in the hope of making the sport more attractive to television audiences.

[2] At the same time a smaller sister class, the AC45, was developed to allow teams to practice and adjust to the new formula as well as create a greater exposure of sailing to the general public with the America's Cup World Series.

[10][11] On 17 October 2012, Oracle Racing's AC72 pitchpoled (somersaulted) and capsized, causing severe damage to the yacht.

The wingsail was completely destroyed while being swept under the Golden Gate Bridge by a strong ebb tide.

[12] On 9 May 2013, Artemis Racing's AC72 pitchpoled and broke apart, resulting in the death of crew member Andrew Simpson.