INEOS Britannia has withdrawn its intention to challenge for the next America’s Cup.
The announcement follows speculation that there would be two British challengers for the next Cup following a parting of the ways between INEOS Britannia and Sir Ben Ainslie.
INEOS and Sir Ben partnered in the last America’s Cup event hosted in Barcelona in which Sir Ben and his crew overcame Italy in the Louis Vuitton Cup series to qualify for the main event and take on defenders Emirates Team New Zealand for the first time since 1964.
In a statement, INEOS stated the decision to not challenge for the Cup has been taken after a protracted negotiation with Athena Racing Ltd following the conclusion of the Barcelona event.
The agreement that had been reached with Athena Racing would have allowed both parties to compete in the next Cup but it depended on a rapid resolution.
This was a very difficult decision to have taken following our challenge at the last two America’s Cups.
Sir Jim Ratcliffe
INEOS Britannia says it had agreed the substantive terms very quickly, but Athena has failed to bring the agreement to a timely conclusion.
INEOS Britannia now says it believes that the six-month delay has undermined its ability to prepare for the next Cup and so has reluctantly withdrawn its intention to challenge.
“This was a very difficult decision to have taken following our challenge at the last two America’s Cups,” said Sir Jim Ratcliffe, chairman of INEOS.
“We were the most successful British challenger in modern times with an exceptionally quick boat and we felt with the very effective input from the Mercedes F1 engineers, that we had a real chance at the next Cup. Unfortunately, the opportunity has slipped away.”
In January 2025, Sir Ben stated that he was ‘astounded’ to hear about the planned challenge for the next Cup by INEOS and Mercedes F1.
And he said the plan ‘raises significant legal and practical obstacles’ that ‘will play out in the coming days and weeks’.
