In a shock statement, INEOS has announced that the Britannia team has split from team boss Sir Ben Ainslie, and intend to launch its own challenge, throwing the British America’s Cup bid for the 38th America’s Cup into question. Sir Ben Ainslie says he is ‘astounded’ by the announcementSome choice words were picked up on Ainslie’s hot mic. Photo: America’s CupIn a surprise announcement, INEOS \u2013 who backed Sir Ben Ainslie\u2019s America\u2019s Cup Challenges for the 36th and 37th America\u2019s Cup \u2013 has reported that it has split from Ainslie and intend to launch a separate challenge.
\nThe statement released this afternoon reads:
\n\u2018INEOS will enter a challenge for the 38th America\u2019s Cup under the team name INEOS Britannia after parting ways with Sir Ben Ainslie.
\n\u2018Unfortunately, INEOS Britannia and Sir Ben could not find agreement on terms to move forward following the conclusion of the 37th America\u2019s Cup in Barcelona.
\n\u2018INEOS Britannia has appointed Dave Endean as CEO, who brings immense experience in sailing and the America\u2019s Cup. INEOS will also continue to leverage the design and technology expertise of the Mercedes F1 Team under the guidance of Technical Director, James Allison.
\n\u2018Sir Jim Ratcliffe, Chairman of INEOS said: \u201cI am enormously proud of what we achieved in Barcelona in developing a British boat that 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.
\n\u201cWe will now build upon this for the 38th America\u2019s Cup through the INEOS challenge and already have 100 scientists and engineers working on the design of our AC38 yacht.\u201d
\n\u2018More details on the INEOS Britannia challenge will follow in due course.\u2019
\nAinslie \u2018astounded\u2019
\nSeveral hours after the INEOS announcement, Ainslie\u2019s team issued their own update. It read:
\n\u2018The British Challenger for the 38th America\u2019s Cup, led by Sir Ben Ainslie, was astounded to read today\u2019s statement from INEOS and Mercedes F1 regarding their planned challenge for the 38th America\u2019s Cup. This plan raises significant legal and practical obstacles for them that will play out in the coming days and weeks.
\n\u2018Furthermore, Sir Ben Ainslie\u2019s British America\u2019s Cup team will be known as Athena Racing going forwards, aligning with the British Women\u2019s and Youth America\u2019s Cup team, the Athena Pathway.\u2019
\nBen Ainslie (right) co-helmed the INEOS Britannia AC75 with Dylan Fletcher (left) in the 37th America\u2019s Cup. Photo: Ian Roman \/ America\u2019s Cup
\nINEOS ends Ainslie partnership
\nThe announcement comes three months after INEOS Britannia were defeated in the 37th America\u2019s Cup by Defenders Emirates Team New Zealand \u2013 the first time a British team had reached a Cup Match final since 1964.
\nIt was confirmed at the time that the British would again be Challenger of Record, representing the Royal Yacht Squadron, for the 38th America\u2019s Cup.
\nThe RYS told Yachting World that this latest development is \u2018purely a commercial matter between INEOS and Athena [Ben Ainslie]\u2019.
\nRYS Limited is Challenger of Record for the 38th America\u2019s Cup, and it\u2019s not yet known whether INEOS Britannia may represent the RYS or challenge representing another yacht club.
\nThere have been rumours that Ainslie\u2019s relationship with INEOS founder and CEO Sir Jim Ratcliffe was foundering. At the press \u2018mixed zone\u2019 after the final race of the 37th America\u2019s Cup Ainslie was noted to not be wearing INEOS branding.
\nGrant Dalton congratulates INEOS Britannia backer Sir Jim Ratcliffe on winning the Louis Vuitton Cup Final in the 37th America\u2019s Cup. Photo: Ian Roman \/ America\u2019s Cup
\nRatcliffe is renowned for his substantial investment in sports, including sponsorship of the INEOS Grenadiers cycling team (though the team has announced that they are looking for additional backers for the coming season), and notably ownership of Manchester United football team, as well as Lausanne-Sport and Nice football teams, and as principal partner of Mercedes AMG-F1.
\nThe collaboration between Mercedes F1 team and INEOS Britannia America\u2019s Cup team was widely credited as helping get the British team to the America\u2019s Cup final, although it was also known to be a challenging relationship.
\nRatcliffe is known to be undertaking cost-cutting exercises across many of his sporting investments. Ainslie confirmed after the 37th America\u2019s Cup that they were seeking additional backers for the next challenge, telling Yachting World\u00a0in Barcelona in October: \u201cJim\u2019s definitely behind the team. Quite what that looks like, I think we\u2019ve got to figure out.
\n\u201cIt 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\u2019s really time to bring in some other support.\u201d
\nA British Cup without Ben?
\nThis latest news creates a remarkable scenario: the possibility of a British team with a title sponsor not headed up (either on the water or off) by Sir Ben Ainslie (or even possibly competing against him).
\nNot only the most successful Olympic sailor of all time, Ainslie has been intrinsically connected to the America\u2019s Cup for over two decades.
\nThe 37th America\u2019s Cup was his third successive Challenge as skipper of a British team \u2013 two backed by INEOS, the first in partnership with Land Rover.
\nPrior to that he won the 34th America\u2019s Cup as tactician for Oracle Team USA, helmed by Jimmy Spithill, in one of the most remarkable sporting comebacks of all time.
\nAinslie winning the America\u2019s Cup with Oracle Team USA in 2013. Photo: Gilles Martin-Raget
\nHis first involvement with a British Cup team was with Team Origin, a challenge formed by Sir Keith Mills and headed up by Ainslie, representing the Royal Thames Yacht Club, which folded under uncertainty regarding the format of the event (which later became the Deed of Gift match).
\nPrior to that he worked with Team New Zealand in their build up to the 32nd America\u2019s Cup, initially as tactician and then as helmsman of the \u2018B\u2019 boat sparring with Dean Barker.
\nWhile each America\u2019s Cup team in recent cycles has been structured slightly differently, each has a hugely respected figure at their head who is also a respected sailor \u2013 Grant Dalton at ETNZ, Max Sirena for Luna Rossa Prada Pirelli, Terry Hutchinson at American Magic etc. Ainslie was unique in being both team principal and skipper\/helmsman.
\nAs for who is now in charge of each element of the team, its staff, hardware, and precious and hard-learned IP and data \u2013 it\u2019s fair to assume this will be one for the lawyers.
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The post BREAKING NEWS: Ainslie splits from America\u2019s Cup backers INEOS \u2013 Ainslie \u2018astounded\u2019 appeared first on Yachting World.<\/p>\n","protected":false},"excerpt":{"rendered":"
In a shock statement, INEOS has announced that the Britannia team has split from team boss Sir Ben Ainslie, and intend to launch its own challenge, throwing the British America’s Cup bid for the 38th America’s Cup into question. Sir … <\/p>\n