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Jim Ratcliffe’s Ineos ‘taking legal steps’ against Ainslie over America’s Cup boat
| United Kingdom | politics | ✓ Verified - theguardian.com

Jim Ratcliffe’s Ineos ‘taking legal steps’ against Ainslie over America’s Cup boat

#Jim Ratcliffe #INEOS #Ben Ainslie #America's Cup #Legal Action #Sailing #Boat Dispute

📌 Key Takeaways

  • INEOS is initiating legal proceedings against Ben Ainslie.
  • The conflict centers on a dispute regarding an America's Cup boat.
  • Jim Ratcliffe is the driving force behind the legal action.
  • The team is facing a significant internal challenge.
  • The specific details of the boat dispute remain undisclosed.

📖 Full Retelling

<ul><li><p>Ben Ainslie and Ineos ended partnership last year</p></li><li><p>Statement says boat used in 2024 ‘belongs to Ineos’</p></li></ul><p>Sir Jim Ratcliffe’s Ineos Group is taking legal action against Sir Ben Ainslie over the boat built for the 2024 America’s Cup.</p><p>Ratcliffe and Ainslie worked closely together across two cycles of the famous sailing competition, culminating in a historic but ultimately unsuc

🏷️ Themes

Legal Dispute, America's Cup, Business Conflict

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Ben Ainslie

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Original Source
Jim Ratcliffe’s Ineos ‘taking legal steps’ against Ainslie over America’s Cup boat Ben Ainslie and Ineos ended partnership last year Statement says boat used in 2024 ‘belongs to Ineos’ Sir Jim Ratcliffe’s Ineos Group is taking legal action against Sir Ben Ainslie over the boat built for the 2024 America’s Cup. Ratcliffe and Ainslie worked closely together across two cycles of the famous sailing competition, culminating in a historic but ultimately unsuccessful challenge for the title 18 months ago. The two men have since fallen out over plans for a third bid. In April 2025, Ineos announced it had “reluctantly withdrawn its challenge” for next year’s race, claiming a six-month delay in reaching an agreement with Ainslie’s Athena Racing had “undermined its ability to prepare” for the event. On Saturday, Ineos released a statement expressing “surprise” that Ainslie’s Athena Racing has kept the boat – named Britannia – which was used in 2024. Ineos Britannia became the first British team to win the challenger series but were then beaten 7-2 by Emirates Team New Zealand in Barcelona. “Ineos is surprised that the boat we built for the last America’s Cup has been taken by Athena Racing,” read 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.” Ainslie’s team, now rebranded as GB1, will be the challenger of record for the 38th America’s Cup in Naples next year, with Oakley Capital announced as major investors in December. Later on Saturday GB1 issued a statement in response, in which they said they “appreciate the sponsorship and support of Ineos over the last two campaigns” but maintained the boat belonged to them. “It should come as no surprise to Ineos that assets which a...
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Source

theguardian.com

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