( CNN ) -- The 2013 America 's Cup will be faster than ever after organizers announced that wingsail catamarans will be the vessels of choice . The race has historically been between yachts with a single hull , however the 34th edition of the contest will be between multi-hull vessels with wings rather than traditional sails . This means the boats will travel faster through the water , with top speeds in excess of 30 knots , almost three times as fast as in the past . The Golden Gate Yacht Club , hosts of the 2013 race and holders of the cup , have also announced a new , shorter race format for the competition . In an attempt to boost interest in one of sailing 's showpiece events an annual World Series will also take place , starting in 2011 , resulting a world champion team being crowned . In addition , a youth America 's Cup will also be introduced , set to begin in 2012 . In a statement on the International Sailing Federation ( ISAF ) website , the CEO of 2010 's winning syndicate BMW ORACLE Racing Russell Coutts explained the reasons behind the changes . `` We believe this new format and new boat will put the America 's Cup back at the pinnacle of our sport , '' said Coutts . `` These changes will give equal opportunity to competitors and long-term economic stability to all teams and all commercial partners . We promised fairness and innovation and this is what we 've delivered . '' The statement also explained how , in addition to generating interest in the contest , the new annual America 's Cup World Series will provide increased commercial revenue for the teams and their sponsors . The venue for the 2013 contest is not due to be announced until the end of the year , with San Francisco , Valencia and a location near Rome believed to be under consideration . Vincenzo Onorato , President of the 2013 challengers Mascalzone Latino , supported the changes : `` I think that we need to acknowledge that the Defender has kept its word . The America 's Cup is going to have fair rules and a truly independent management of the racing . ''
The 34th America 's Cup will take place on faster wingsail catamarans . An annual America 's Cup World Series will begin in 2011 , according to organizers . TL;DR A new race is set for the America's Cup, which has been held since 1851.