America’s Cup defender Oracle Wednesday released a draft protocol for the next edition of yachting’s premier event that envisages cost-cutting measures and an independent regulator to decide disputes.

The US syndicate called on challengers for the 34th America’s Cup to comment on the protocol before it is published by August 31.

Oracle won the 33rd edition of the oldest international sporting trophy in a best-of-three showdown with Swiss syndicate Alinghi in the Spanish port of Valencia in February, after more than two years of legal wrangling over the rules.