The six America’s Cup teams have agreed to a project that will see the existing fleet of AC45 catamarans modified into fully foiling catamarans for racing in the America’s Cup World Series.

Importantly, the teams have also committed to continue to race the foiling AC45s on the America’s Cup World Series circuit in 2018, following the conclusion of the 35th America’s Cup in 2017.

“I’m pleased all of the competitors have agreed on a way forward, beyond the current America’s Cup cycle,” Harvey Schiller, the commercial commissioner for the 35th America’s Cup said in a statement. “To have the teams give certainty to all stakeholders as to what will happen following the racing in 2017, regardless of who wins, is a huge step forward for all involved.”