ben ainslie faces a legal fight as Ineos moves to reclaim the America’s Cup boat Britannia, the company says it built and owns. The dispute follows a split between Ineos and the team formed by ben ainslie after years of partnership and fresh private backing for the team now calling itself GB1. Ineos says the action is necessary because the boat, which it values at £180m, has been taken into the possession of Athena Racing and is being presented for future competition.
Key facts and legal move
Ineos has notified that it is taking legal steps to secure the return of the boat named Britannia and insists the vessel belongs to the company. Ineos states the boat cost £180m, evolved from an earlier boat that cost a further £170m, and was the most successful British boat in history in its last campaign. The company had funded the team that competed in the America’s Cup in Auckland and Barcelona, and that funding relationship ended after relations between Ineos founder Sir Jim Ratcliffe and the team broke down.
The split occurred at the start of last year and the Ineos sailing team abandoned plans to challenge for the next America’s Cup in Naples in April 2025 (ET). Ineos has blamed a protracted negotiation with Athena Racing for delays and says it will now pursue legal avenues to retrieve the vessel and protect its investment.
Ben Ainslie and the Britannia dispute
After the breakup, Athena Racing secured private equity backing from Oakley Capital and rebranded the operation as GB1 in January. GB1 maintains the boat has been in the possession of Athena Racing and asserts the asset is theirs to use in AC38. Ineos rejects that position and says it is inappropriate to assume use of the boat in future competition without Ineos’ permission.
Immediate reactions
In a formal statement, Ineos said: “Ineos is surprised that the boat we built for the last America’s Cup has been taken by Athena Racing. ” The company added: “The boat belongs to Ineos and it is inappropriate to assume it can be used for the next competition without seeking our permission. “
GB1 issued a response stating: “We appreciate the sponsorship and support of Ineos over the last two campaigns” and that “assets which are owned by, and have always been in the possession of Athena Racing are being used for AC38. ” Ainslie commented last year that splitting with Ineos after the fallout was “a difficult decision” driven by “different opinions on how to move forwards with the team. “
Quick context
Sir Jim Ratcliffe and ben ainslie teamed up in 2018 with Ineos funding campaigns that competed in Auckland in 2021 and Barcelona in 2024. The partnership unraveled early last year, setting the scene for the present dispute over ownership and control of Britannia.
What’s next
Ineos says the next step is legal action to secure the return of Britannia; any court filings and formal responses from GB1 and Athena Racing will determine whether the boat is removed from current control. Observers should expect written filings and legal timetables to set the schedule for resolution, with claims about ownership and the right to use the vessel forming the core of the case.
