Professional services firm PwC is to be the official provider of accounting services to the America’s Cup and defending champions Team Oracle USA.

And the global firm, which will provide professional services to the America’s Cup Event Authority (ACEA) and Team Oracle USA, will also make a major contribution to the America’s Cup community sailing project.

The community programme will promote youth education through sailing and sailing-related activities and experiences and it is aimed to keep the programme running even after 2017.

PwC Bermuda leader Arthur Wightman said: “We are proud to connect our brand with an event that shares PwC’s core values of excellence, teamwork and leadership.”

He added: “In reaching this agreement it was especially important to all of us at PwC that our role aligned with our overall purpose — to build trust in society and solve important problems.

“Beyond providing our professional services, we are especially proud to play an important role in the America’s Cup community sailing project in Bermuda.”

Mr Wightman said: “We are unreservedly committed to playing our part in ensuring that there is a real legacy benefit from the 35th America’s Cup that will be felt by the Bermuda community for many years to come.”

America’s Cup commercial commissioner Harvey Schiller added: “We’re thrilled to have PwC support the America’s Cup and especially the community sailing project.

“Having Bermuda-based partners for this important initiative demonstrates a commitment to the ensure the America’s Cup has a wide-ranging impact for all Bermudians.”

The America’s Cup races kick off with the World Series in Portsmouth in England in July, with further races in Gothenburg, Sweden, in July.

The action moves to Bermuda for the first time in October.

PwC is the largest professional services firm on the Island, with more than 200 staff specialising in insurance and reinsurance, asset management and banking.