Here is clarification from Steve Clark about the format of this event:

Mary,
A few details for your information and correction.
We have adopted a "world cup" style format in which the defender has to qualify for the finals. So Lars and Duncan will not be sailing off to see who defends the US. We start with 5 days of racing (n 3 races per day) with all 4 competitors. The 1st and 2nd boat meet in match race in match race finals. The 3rd and 4th boat meet in "pettite" finals.
This makes for more sailing, a more open competition ,more interest, and hopefullky more fun.

SHC

P.S. I took out of here his mention about the L.A.C. nickname and put it on the other thread, "Which is the REAL Little America's Cup." Please put your opinions about that on that other thread. Thanks.