History
In 1970, for the first time in America's Cup history, multiple international challengers competed for the right to challenge the New York Yacht Club, the defender of the America's Cup (the key word being "international": in 1964, for example, two British challengers competed for the right to challenge the NYYC.)
For the 1983 America's Cup match, Louis Vuitton offered a trophy to the winner of the challenger selection series; the idea generally credited to Bruno Trouble, a French yachtsman. The initial Louis Vuitton Cup was contested off Newport, United States, with Australia II prevailing, thereby earning the right to meet the NYYC’s defending yacht Liberty in that year’s America’s Cup.
With the exception of the America's Cup races in 1988 and 2010, the winner of the Louis Vuitton Cup has been awarded the right to challenge the current defender for the America's Cup. During the 1992 and 1995 regattas Citizen Watch offered a trophy to the winner of the defender selection series (the Citizen Cup) as the defense’s counterpart to the Louis Vuitton cup.
Read more about this topic: Louis Vuitton Cup
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“It is the true office of history to represent the events themselves, together with the counsels, and to leave the observations and conclusions thereupon to the liberty and faculty of every man’s judgement.”
—Francis Bacon (1561–1626)