A major shift in British sailing has emerged as Sir Jim Ratcliffe’s INEOS Britannia has officially withdrawn from the 38th America’s Cup, ending its high-profile partnership with Sir Ben Ainslie. The decision follows months of unresolved negotiations and internal disagreements over the team’s direction.
INEOS, which had supported Ainslie’s America’s Cup efforts since 2018, cited a failure to finalize terms with Ainslie’s newly launched Athena Racing team. The delay, INEOS claimed, compromised critical planning and preparations for the 2024 to 2025 campaign. This decision brings to a close a partnership once valued at over £200 million, which also included collaboration with engineers from Mercedes F1.
Sir Jim Ratcliffe expressed disappointment in the outcome, noting that INEOS Britannia had been the most successful British challenger in modern America’s Cup history. The partnership had been considered one of Britain’s best hopes to finally lift sailing’s most prestigious trophy.
In response, Ainslie, one of the most decorated Olympic sailors in history, described himself as “astounded” by INEOS’ sudden exit. Undeterred, he has announced the formation of Athena Racing, which will move forward with plans to compete in the next America’s Cup under a new banner.
The split leaves uncertainty around the British challenge’s future, especially with INEOS’ departure representing both a loss of funding and technical backing. However, Ainslie’s continued presence in the sport, along with his new team, keeps the dream of a British victory alive, albeit on a new path.
The 38th America’s Cup is set to take place in Barcelona in 2024, and all eyes will be on Athena Racing to see if it can rise to the occasion in a rapidly evolving competitive landscape.
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Very good