Following World War II, the money available to invest in yachting had dwindled due to wartime losses. It was too expensive to keep building the large 23-meter plus boats. There were no races held between 1938 and 1957. So, when the America's Cup returned in 1958, the Twelve-Meter class rule was implemented, making the boats smaller, lighter and faster. For the next 31 years, the Twelve-Meter rule was the standard.