Sir Jim Ratcliffe’s Ineos group is taking legal steps to secure the return of the British AC75 used in the last America’s Cup by Sir Ben Ainslie’s team.
The Daily Telegraph is reporting that Sir Jim Ratcliffe is taking legal action to force Sir Ben Ainslie to hand back the “£180m boat” they built together for the last America’s Cup.
This sudden announcement reopens the row between the Ratcliffe and Ainslie which was ignited when Ratcliffe basically sacked Ainslie from the Ineos Britannia AC challenger team back in January 2025, saying that they “could not find agreement on terms to move forward” for a third America’s Cup campaign, and appointed a new CEO.
Ainslie hit-back with a statement that his British America’s Cup team would be known as Athena Racing going forwards, aligning with the British Women’s and Youth America’s Cup team, the Athena Pathway.
Since then, in April 2025 Ratcliffe’s Ineos Britannia sailing team abandoned its challenge for the next America’s Cup, and things seemed to move on.
Ainslie eventually obtained backing from the private equity firm Oakley Capital, with Ainslie apparently having control of the AC75 Britannia, used in the 37th America’s Cup via his Athena Racing Team.
The AC75 and the Ainslie AC team are now renamed GB1, and he has been recruiting crew members, with the AC75 being modified to the latest class rule for the 38th America’s Cup.
In an Ineos statement on Saturday, Ineos said it had “recently received information” that Ainslie’s team for the 38th America’s Cup was “in possession of the boat built and used during AC37”.
And added: “INEOS is surprised that the boat we built for the last America’s Cup (AC 37) has been taken by Athena Racing. The boat belongs to Ineos and it is inappropriate to assume it can be used for the next competition without seeking our permission.”
Ineos added that it would be making no further comment while the legal process was under way.
In response, Athena Racing told Telegraph Sport it should come as “no surprise to Ineos” that the team were still using the AC75 from the last America’s Cup since the boat was “owned by and has always been in the possession of” Athena Racing.
Related Post . . .
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