Sailing will still take place in March 2021 as dates for the America's Cup were fixed and would not change.
The pair will serve as team co-chief executives, with racing to begin in April 2021.
An independent panel has denied Stars & Stripes permission to use a boat built offshore.
Team NZ used the boat to defend the Auld Mug off Auckland in 2000.
Veteran commentator Richard Gladwell is amused by the latest off-water politicking.
The former Team NZ skipper will race for the Americans next March.
Americans Stars & Stripes need an exemption to make the Auckland start-line next year.
They had been told in March by Tonga's Minister of Health about the indefinite restrictions.
Tom Mayo and Grant Calder have been fired, after reporting their concerns to funding agencies.