Sir Ben Ainslie has hit back at his removal and replacement from the INEOS Britannia organisation, and will continue his British America’s Cup team challenge for the 38th America’s Cup.
The multi Olympic medallist and ‘former’ CEO of INEOS Britannia issued a statement on the Athena Racing website Thursday that he was ‘astounded’ by the INEOS statement regarding their planned challenge for the 38th America’s Cup.
The Ainslie reaction follows the shock announcement, in a statement isued earlier by Sir Jim Ratcliffe’s INEOS Group, that they would challenge for the America’s Cup without Sir Ben Ainslie, who was replaced as CEO by Dave Endean.
Ainslie states that his British America’s Cup team will be known as Athena Racing going forwards, aligning with the British Women’s and Youth America’s Cup team, the Athena Pathway.
The proposed plan by Ratcliffe to challenge for the next America’s Cup – for which the Royal Yacht Squadron is the Challenger of Record – would require one of them to make a seperate challenge through another sailing club.
There could also be a battle over the assets or intellectual property of the Ineos Britannia team. Ratcliffe claims to “already have 100 scientists and engineers working on the design of our AC38 yacht.”
Another problem for Ainslie will be the team base, originally in a purpose built building in Portsmouth, it moved to the Mercedes F1’s headquarters in Brackley, ahead of the last challenge to make use of their design facilities.
Despite the £200 million Ratcliffe pumped into the last two challenges, it seems that the eventual control of the team – Athena Racing Ltd – is with Sir Ben.
This breakdown in their partnership and Ratcliffe’s left-field solution, carried out with trademark speed and precision, looks set to run-and-run. And adds an interesting new twist to the history file of the oldest and best-known trophies in international sailing yacht competition.
It was first offered as the Hundred Guinea Cup for a race round the Isle of Wight in 1851, and won by the yacht America. It has never been won by a British yacht.
The Statement posted on the Athena Racing website reads . . .
The British Challenger for the 38th America’s Cup, led by Sir Ben Ainslie, was astounded to read today’s statement from INEOS and Mercedes F1 regarding their planned challenge for the 38th America’s Cup. This plan raises significant legal and practical obstacles for them that will play out in the coming days and weeks.
Furthermore, Sir Ben Ainslie’s British America’s Cup team will be known as Athena Racing going forwards, aligning with the British Women’s and Youth America’s Cup team, the Athena Pathway.
