Oakley Capital’s backing reshapes Athena Racing
Athena Racing has confirmed a majority ownership investment from Oakley Capital, marking a major change in how Britain’s America’s Cup programme is funded and run.
The team says the investment is designed to support more than a single campaign. It is framed as backing that can carry Athena through multiple America’s Cup cycles, starting with the 38th America’s Cup in Naples in 2027.
Oakley Capital brings private equity ownership into a campaign that is also moving into a new governance era for the Cup itself. For Athena, the two moves are linked.
Leadership changes and continuity
Athena’s updated structure also comes with role changes at the top.
Sir Ben Ainslie will focus on governance and commercial development while continuing to support the performance programme. Ian Walker has been appointed Chief Executive Officer. Nick Holroyd has re signed as Head of Design.
Together, those changes signal a push for continuity in the design room and more structure in the business side of the team.
A wider group taking shape
The release also points to a broader umbrella around the racing programme.
Ainslie will retain a significant shareholding in Athena Racing, with that stake forming part of the developing Athena Sports Group. That group also includes majority ownership of the Emirates Great Britain SailGP Team and the Athena Pathway Programme, including Youth and Women’s America’s Cup teams.
Athena’s programmes continue to support the 1851 Trust, a charity focused on young people through sport and STEM learning.
Linked to the new America’s Cup Partnership
The timing of the Oakley investment follows the formation of the America’s Cup Partnership, a new governance and commercial body jointly founded by Athena Racing as Challenger of Record, Defender Emirates Team New Zealand, and other competitors.
Athena describes the Partnership as a shift away from the traditional defender led model. Under the new structure, all competing teams will have a seat on the Partnership board, alongside an independent executive leadership team tasked with growing the event’s audience and commercial reach.
Athena and Oakley say they were heavily involved in the Partnership negotiations and see the model as a step toward a more stable Cup cycle.
What Oakley says it will do next
Oakley Capital says the Cup is entering a new era and points to stronger governance and neutral management as key drivers for broader appeal.
The firm says it will support Athena by accelerating commercial partnerships, building brand visibility, and scaling the team’s operations as preparation continues for Naples 2027.
Back on the water
On the sailing side, Athena says it is preparing for a winter training camp and will resume development with AC40 monohulls as it builds toward the next America’s Cup.
