In 1983, yachtsman Will Parker captains an American team, backed by millionaire Morgan Weld, in a losing effort against an Australian crew in the America’s Cup race. Eager to reclaim the trophy, Will persuades Morgan to fund a cutting-edge boat crafted by Joe Heisler, the new partner of his former girlfriend, Kate. Once the boat is ready, the American team travels to Australia with the aim of winning back the cup.