Legal action is being taken to secure the return of the £180 million AC75 Britannia, the boat that was built for the British team for the last America’s Cup.
Led by Sir Ben Ainslie, at the time Ineos’ team principal and skipper, the team was the most successful British entry in America’s Cup history.
The yacht in question raced as Ineos Britainnia in the 37th America’s Cup in 2024, winning the Louis Vuitton Cup challengers’ series to score a place in the America’s Cup final – the first British boat in an America’s Cup final for 60 years.
However, despite this success, relations between Ineos and Sir Ben are reported to have subsequently turned sour and the two sides parted company at the start of 2025.
Athena Racing, founded by Sir Ben, has announced it will be taking part in the next America’s Cup, taking place in Naples, Italy, in 2027.
Ineos is surprised that the boat we built for the last America’s Cup (AC37) has been taken by Athena Racing.
Ineos
Ineos had initially announced it would also challenge, but in April 2025 announced it was pulling out citing a protracted negotiation with Athena Racing Ltd following the conclusion of 37th America’s Cup in Barcelona.
Now, in a statement, Ineos says it is taking legal steps to ensure the return of Britannia.
“Ineos is surprised that the boat we built for the last America’s Cup (AC37) has been taken by Athena Racing,” said the statement.
“The boat belongs to Ineos and it is inappropriate to assume it can be used for the next competition without seeking our permission.
“The boat was the most successful British boat in history and cost Ineos £180m and evolved naturally from the first boat which cost a further £170m. Ineos is taking legal steps for the boat to be returned.”
Proud of achievements
In its response to the claim, Athena Racing stated: “It should come as no surprise to Ineos that assets which are owned by, and have always been in the possession of Athena Racing are being used for AC38.”
The statement continued: “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.”
The 2027 America’s Cup is due to use the same boats that were raced in Barcelona in 2024 and the dispute comes as crew members are being signed and announced, with Athena Racing the Challenger of Record.
Developing skills and careers
The statement from Athena Racing continued: “Our America’s Cup team, GB1, alongside our Women’s and Youth America’s Cup squads are currently training together in Cagliari in preparation for the first Preliminary America’s Cup regatta in May.
“The 150 strong team based out of Portsmouth are focussed on the task at hand, working with some of the best British technology companies and developing skills and careers for generations to come.
“We will always appreciate the sponsorship and support of Ineos over the last two campaigns, culminating in the team becoming the most successful British Challenger in 60 years in Barcelona 2024.
“It should come as no surprise to Ineos that assets which are owned by, and have always been in the possession of Athena Racing are being used for AC38.”
