Ineos withdraw from America’s Cup challenge as legal issue not resolved
Sign up now: Get the biggest sports news in your inbox
Briton Ben Ainslie won medals at five consecutive Olympics from 1996 onwards, including gold at four successive Games from 2000 to 2012.
PHOTO: ST FILE
LONDON – Ineos Britannia have withdrawn their intention to challenge for the next America’s Cup after failing to reach a settlement with former skipper Ben Ainslie’s team Athena Racing, the team backed by Ineos chief Jim Ratcliffe said on April 9.
Ineos said in January that Ainslie parted ways with Britain’s America’s Cup team after his third attempt to skipper his country to the trophy ended in failure in October, a decision that left the four-time Olympic champion “astounded”. They reached a first final since 1964 in Barcelona in 2024 but lost 7-2 to Emirates Team New Zealand.
Ainslie had vowed to compete for the 38th edition, but it would be without a partnership with Ineos, with his British America’s Cup team now known as Athena Racing.
Ineos had planned to compete under the Britannia name, but Ainslie’s Athena Racing team said they were shocked by the move, and it raised “significant legal and practical obstacles”. The two parties have been engaged in legal action over intellectual property since then, which sources suggest is now close to being resolved.
“The agreement that had been reached with Athena Racing would have allowed both parties to compete in the next cup, but it depended on a rapid resolution. Ineos Britannia had agreed the substantive terms very quickly, but Athena has failed to bring the agreement to a timely conclusion,” Ineos said in a statement.
Ineos Britannia said the six-month delay had “undermined its ability to prepare” for the next Cup, leading to their withdrawal.
“This was a very difficult decision to have taken following our challenge at the last two America’s Cups,” said Ratcliffe, who is also co-owner of English Premier League club Manchester United.
“We were the most successful British challenger in modern times with an exceptionally quick boat and we felt with the very effective input from the Mercedes F1 engineers, that we had a real chance at the next cup. Unfortunately, the opportunity has slipped away.”
Reuters has contacted Athena Racing for comment. REUTERS
