Dispute could rock the America’s Cup

The America’s Cup has had its share of land-based drama, but a legal row may top the charts between British Olympic champion Ben Ainslie and chemicals billionaire Jim Ratcliffe and his company INEOS that sponsored Ainslie’s America’s Cup challenge in 2021 and 2024.

According to reports from the court proceedings, Ainslie alleged that senior INEOS Sport executives warned him that Ratcliffe would effectively “burn your house down” if he did not agree to INEOS’s position in their dispute over the British America’s Cup team and its assets. Ainslie said the remark was conveyed during a meeting by executives including Jean-Claude Blanc and Rob Nevin.

The disagreement stems from the collapse of the partnership between Ratcliffe’s INEOS group and Ainslie’s sailing organization, now known as Athena Racing. After their split in 2025, both sides claimed ownership rights over key America’s Cup assets, especially the AC75 yacht that raced as INEOS Britannia in the 2024 America’s Cup.

INEOS argues that, having invested roughly £174–180 million in the project, it is entitled to ownership of the yacht and other assets under the parties’ agreements. Athena Racing argues that interpretation and maintains the assets belong to the team.

The case could have major consequences for Britain’s challenge in the 38th America’s Cup in Naples. Ainslie has warned that if INEOS succeeded in taking possession of the AC75 yacht, it could seriously disrupt or even jeopardize Britain’s campaign.

As the Challenger of Record, this is the boat Ainslie’s team needs to compete in 2027.

The reported threat is part of Ainslie’s account presented in court. INEOS’s legal position centers on ownership of the yacht and related assets rather than public allegations of personal intimidation. Court proceedings are ongoing, and the allegations remain contested.

In short, the case is one of the biggest off-the-water disputes in modern America’s Cup history: a fight between former partners over control of a British sailing team, a highly valuable racing yacht, and the future of Britain’s bid to win sailing’s oldest trophy.

Details: https://www.americascup.com/

Defender New Zealand and Challenger of Record from Great Britain confirmed the Protocol for the 38th America’s Cup on August 12, 2025. The close of the initial entry period was October 31, 2025, with late entries considered up to March 31, 2026.

Current entrants:
• Emirates Team New Zealand (NZL) – Defender
• Athena Racing (GBR) – Challenger of Record
• Luna Rossa (ITA) – Challenger
• Tudor Team Alinghi (SUI) – Challenger
• La Roche-Posay Racing Team (FRA) – Challenger
• American Racing Challenger Team USA (USA) – Challenger
• Team Australia (AUS) – Challenger

After the 2024 event, Barcelona, Spain declined hosting another edition, with the venue moved to Naples, Italy. Challenger racing begins in the spring before the 38th Match on July 10-18, 2027.

Preliminary Regattas:*
May 22-24, 2026 – Cagliari, Italy
September 24-27 – Naples, Italy

* The Protocol noted how there would be as many Preliminary Regattas as possible, with the intent to have three during 2026 and one possibly in early 2027, and a final event at the Match Venue immediately prior to the challenger series. Only two have been thus far revealed.