The two teams, now competing for Britain’s first America’s Cup victory since 1851, had vastly different approaches: INEOS prioritised cutting-edge engineering, while Athena Racing focused on building a lasting legacy. The split was sparked by tensions between Ainslie and Sir Jim Ratcliffe, who controls INEOS. Ainslie, once at the helm of INEOS Britannia, was replaced by Dave Endean after Ratcliffe’s high-risk strategy clashed with Ainslie’s commitment to sustainable development. Financial struggles, including Ainslie’s £13 million overdraft, added to the friction. While Ainslie’s new team, Athena Racing, faced financial hurdles, INEOS Britannia was well-funded and backed by Mercedes F1’s expertise. This split, between Ainslie and Ratcliffe, shook up the British challenge, setting the stage for a high-stakes competition for the coveted title, which would begin with the naming of the official Challenger of Record.
Following the split, talks began in earnest, with the AC38 meeting playing a crucial role in determining Britain’s future in the Cup—particularly with regard to the Challenger of Record status. The sailing world eagerly awaited the outcome of these discussions, but despite high expectations, no announcements were made after a crucial meeting between the two teams.
Then, in an unusually subtle way updated to their website—without the normal America’s Cup fanfar—the Royal Yacht Squadron Ltd confirmed Athena Racing, led by Sir Ben Ainslie, as the official Challenger of Record for the 38th America’s Cup. This prestigious role means that Athena Racing will now work closely with the Royal New Zealand Yacht Squadron to help shape the future of the world’s oldest sporting trophy.
Given New Zealand’s proud legacy in the America’s Cup, Athena Racing’s confirmation as the Challenger of Record is poised to add another exciting chapter to this historic competition. It also strengthens the event’s global impact, while further expanding opportunities within the sailing world.
