The America's Cup is a sailing competition and the oldest international competition still operating in any sport. America's Cup match races are held between two sailing yachts: one from the yacht club that currently holds the trophy and the other from the yacht club that is challenging for the cup. The winner is awarded the America's Cup trophy, informally known as the Auld Mug. Matches are held several years apart on dates agreed between the defender and the challenger. There is no fixed schedule, but the races have generally been held every three to four years. The most recent America's Cup match took place in March 2021.

The sport of sailing involves a variety of competitive sailing formats that are sanctioned through various sailing federations and yacht clubs. Racing disciplines include matches within a fleet of sailing craft, between a pair thereof or among teams. Additionally, there are specialized competitions that include setting speed records. Racing formats include both closed courses and point-to-point contests; they may be in sheltered waters, coast-wise or on the open ocean. Most competitions are held within defined classes or ratings that either entail one type of sailing craft to ensure a contest primarily of skill or rating the sailing craft to create classifications or handicaps.