Particle.news
Download on the App Store
4 ARTICLES
·
4w ago

INEOS Britannia Withdraws from America’s Cup Over Settlement Delays

The decision follows a six-month impasse with Sir Ben Ainslie’s Athena Racing, ending Britain’s latest bid for sailing’s prestigious trophy.

Sailing - 37th America's Cup - New Zealand v Britain - Barcelona, Spain - October 19, 2024 INEOS Britannia at the start of race nine REUTERS/Albert Gea
Ratcliffe has ended any immediate hopes of Ineos becoming the first British winner of sailing’s biggest prize

Overview

  • INEOS Britannia announced its withdrawal from the next America’s Cup challenge, citing prolonged settlement delays with Athena Racing.
  • The six-month delay in finalizing terms with Athena Racing undermined INEOS Britannia’s preparation timeline, according to the team’s statement.
  • The split between INEOS and Sir Ben Ainslie’s team stemmed from disputes over ownership, assets, and intellectual property following the 2024 America’s Cup final.
  • Sir Ben Ainslie has rebranded his team as Athena Racing, which retains challenger of record status for the next America’s Cup.
  • INEOS chairman Jim Ratcliffe expressed regret over the decision, noting the team’s prior success and technical backing from Mercedes F1 engineers.