The problem with saying the boat has to be built in the country of the team sailing it means that if your country currently has no builder of the class then some wealthy individual has to foot the bill for a one off boat OR drum up sponsorship for the program. Since the LAC has virtually NO recognition, sponsorhip will be tough to sell.

I think this is what has happened with the C Class. The boatswere rare and VERY expensive. Combined with a poor return on sponsorship dollars, a LAC like the real AC was inpossible. I think they are taking the right track.
1) Build interest and participation using a Formula class
2) Once participation returns, ratchet up the technology by opening it up to other manufacturers.
3) Maybe in the future, with minimum weight limits and a ban on wing sails, the C Class could return.

For the C Class to return, one of the following has to occur:

1) The boat must be drastically less expensive (hence the weight limit and ban on wing sails) so that mounting a challenge is doable my more people. I belive this is the primary goal of the new format.

2) The boat has to be raceable in local or regional competitions. If the boat is to be more expensive, there must be a least SOME pockets or fleets in each country. As a related point of interest, why does something like a J-80 or Melges 24 have so much appeal (at $50k +) while an RC27/RC30 could be had for about the same money?

3) As in the case of the real AC, sponsorship money has to flow like a river.

If at least one of the boave does not exist for the boat chosen for the LAC, it can't stay alive, much less flourish. If you can combine all of these things, or at least two of the three, there is no reason this can't work.