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America's Cup

America's Cup - What's in a Name?

 
Sir Ben Ainslie's new America's Cup Team - Ineos Team GB - could be forced to rename after the British Olympic Association demanded payment for use of the Team GB name.

Billionaire Jim Ratcliffe, who has has backed Ainslie and his Portsmouth based team with £110 million, is reported to be intending to rename the team "Team UK" after he claimed he was asked for a multi-million sum by BOA.

BOA said that at no stage was there any demands for a specific sum, but that it must protect the Team GB trademark.

Nothing had changed on the "Ineos Team GB" website this morning . . . but by the afternoon . . .

Ineos Team UK will represent the Royal Yacht Squadron’s affiliated club, Royal Yacht Squadron Racing in the 36th America’s Cup, to be held in New Zealand.

Ratcliffe is a former chemical engineer and the current chairman and CEO of Ineos who has an estimated net worth of $11 billion as of January 2018.

Read Alan Tovey Telegraph article here

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