Sir Jim Ratcliffe’s Ineos Group has initiated legal proceedings against Sir Ben Ainslie over the ownership of the boat used in the 2024 America’s Cup. The two former allies have fallen out after Ineos withdrew its challenge for the 2025 race, citing a six-month delay in reaching an agreement with Ainslie’s Athena Racing.
Ineos expressed surprise that Athena Racing retained the boat, named Britannia, which was built for the 2024 competition. In a statement, Ineos claimed the boat belongs to them and that using it without permission is inappropriate. The boat cost Ineos £180 million and was part of a £350 million total investment across two campaigns.
Athena Racing, now rebranded as GB1, responded by stating that the assets have always been in their possession and ownership. They acknowledged Ineos’s sponsorship but maintained the boat is rightfully theirs as they prepare for the 38th America’s Cup in Naples next year.
