‘Astounded’ Ainslie dropped from INEOS Britannia
Sir Ben Ainslie has issued a statement sharing his astonishment after being essentially fired by Ineos Britannia and Sir Jim Ratcliffe. The bombshell news came late last night – 23 January 2025 – when Ineos issued a statement proclaiming it will enter a challenge for the 38th America’s Cup under the team name Ineos Britannia . . . . but after parting ways with Ainslie.
‘Unfortunately,’ the statement reads, ‘Ineos Britannia and Sir Ben could not find agreement on terms to move forward following the conclusion of the 37th America’s Cup in Barcelona.’
Now INEOS Britannia has appointed Dave Endean as CEO. Ineos says it will continue to leverage the design and technology expertise of the Mercedes F1 Team under the guidance of technical director, James Allison.
Legal challenges to come, after Ainslie fired by Ineos Britannia
Ainslie says he was ‘astounded’ to read the statement. “This plan raises significant legal and practical obstacles for them that will play out in the coming days and weeks,” Ainslie’s responded.
And, Ainslie has already renamed his British America’s Cup team. It will be known as Athena Racing going forwards, aligning with the British Women’s and Youth America’s Cup team . . . the Athena Pathway.
Meanwhile, Ratcliffe, chairman of Ineos, says he is enormously proud of what Ineos achieved in Barcelona but does not credit, or thank, Ainslie.
Ratcliffe believes the British boat that was developed was truly competitive for the first time in decades.
“It set new benchmarks for British sailing, including winning the Louis Vuitton Cup for the first time, and taking races off the Defender in the finals for the first time in 90 years. We will now build upon this for the 38th America’s Cup through the Ineos challenge and already have 100 scientists and engineers working on the design of our AC38 yacht.”
The legal complications are understood to include the issue of who owns the intellectual property garnered in the course of Ainslie’s six-year collaboration with Ratcliffe, reports the Daily Mail. That’s relevant because Ainslie is expected to proceed with a rival British challenge of his own for the cup – Athena Racing.
The RYS told Yachting World that this latest development is ‘purely a commercial matter between INEOS and Athena [Ben Ainslie]’.
RYS Limited is Challenger of Record for the 38th America’s Cup, and it’s not yet known whether INEOS Britannia may represent the RYS or challenge representing another yacht club.
Rumours of strained relationship between Ainslie and Ratcliffe
Ratcliffe seemingly told Daily Mail ‘sources’ he was previously considering walking away from sailing. He has poured circa £200 million investment into Ainslie’s team since 2018. After the latest defeat in Barcelona, both Ainslie and Ratcliffe noted that a new sponsor was needed to share the load with Ineos, with Ainslie quoted as telling Yachting World: “Jim’s definitely behind the team. Quite what that looks like, I think we’ve got to figure out. It would be good if we could bring in some other partners. Because really, he and his mates at Ineos have been phenomenal to back two campaigns on their own. Now it’s really time to bring in some other support.”
Mail Sport has previously detailed how Ratcliffe had involved himself in the minutiae of his sailing investment, including the vast array of legal documentation that’s needed to enter the America’s Cup. Ratcliffe’s involvement was warmly embraced by Ainslie and his staff in public, but the paper points out that there is a fine line between diligence and micro-management.
The BBC also says that four-time Olympic champion Ainslie had a strained relationship with Manchester United co-owner Ratcliffe, which prompted them to part ways.
Yachting World also points out at the press ‘mixed zone’ after the final race of the 37th America’s Cup Ainslie was not wearing INEOS branding.
“The problem with Ratcliffe is he doesn’t understand sport. He thinks money is the answer to everything when team, cohesion, skills and culture matter far more. That is why TEAM NZ are so formidable… greater than the sum of the parts,” says one online commentator on the Daily Mail, while another asks: “Can’t they find a worthy cause to give the money too? Sailing is the most expensive sport on the planet. You might just as well flush £50 notes down the drain.”
Meanwhile, over on X (formerly known as Twitter), the America’s Cup account is asking if there will be two British contenders. One follower notes that this is a: “Huge development. Sounds like it’s about control of the team, and JR has exerted his authority. Can Athena raise enough for a 2nd British challenge?”, to which another sagely replies: “Only one man brings the money. There are more than one who can steer a boat.”
Ainslie has enjoyed a successful career ‘steering a boat’.
He became Ineos Britannia’s team principal and skipper, having got the backing of Ratcliffe in 2018 in a bid to a deliver a win for Great Britain. But all his attempts in a British boat, including those backed by Ineos, have ended in disappointment. Last year, Ainslie’s team beat Italy in the Louis Vuitton Cup series to qualify for the America’s Cup final for the first time since 1964. However, Emirates Team New Zealand won resoundingly.
Prior to that, Ainslie won medals at five consecutive Olympics from 1996 onwards, including gold at four consecutive Games from 2000 to 2012.
Details of the 38th America’s Cup are yet to be announced by Emirates Team New Zealand. It’s expected that they will be released in June 2025.
Read the latest news about Sir Ben Ainslie or the America’s Cup.
