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Man United Co-Owner Sir Jim Ratcliffe in £180m Legal Fight Against Olympic Icon
Ineos seeks return of the £180 million AC75 boat after disputes with Athena Racing over ownership and control for the 2024 and upcoming 38th America's Cup events.
- On Saturday, Ineos Group announced legal action to recover the AC37 boat used in the 2024 America's Cup, expressing 'surprise' that Athena Racing has kept it.
- Sir Jim Ratcliffe and Sir Ben Ainslie worked together across two America's Cup cycles, culminating in a challenge 18 months ago, before splitting over plans for a third bid.
- GB1 said it appreciates Ineos's past support but insists the yacht belongs to them and is part of GB1's AC38 campaign, with Oakley Capital as major investors.
- Both sides issued statements on Saturday, with Ineos Group 'surprised' Athena Racing kept the AC37 boat, raising immediate campaign and partnership questions for AC38 in Naples next year.
- The yacht at the centre of the row is a historically significant campaign asset as Ineos Britannia won the 2024 challenger series but lost 7-2 in the 2024 America's Cup final.
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Sir Jim Ratcliffe launches legal action against Britain's most successful Olympic sailor with £180m demand
Sir Jim Ratcliffe's petrochemicals giant Ineos has commenced legal proceedings against Sir Ben Ainslie in a bid to reclaim the £180 million vessel constructed for the 2024 America's Cup campaign in Barcelona
·London, United Kingdom
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Athena Racing statement on the British America's Cup team, GB1
Athena Racing is proud of its achievements over the past 12 years since launching the British America’s Cup team in 2014. Britain has still not won the America’s Cup in its 175 year history which started off our shores in 1851. The mission of the last 12 years remains the same, to win sports oldest international trophy for the nation. Our America’s Cup team, GB1, alongside our Women’s and Youth America’s Cup squads are currently training togethe…
Coverage Details
Total News Sources10
Leaning Left3Leaning Right2Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 17%
R 33%
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