The concerns for Team New Zealand as bitter British split engulfs America's Cup
Wednesday, 29 January 2025
ANALYSIS: Disputes and disagreements in the hazy world of America’s Cup politics are as common as ducks on water.
The drama away from the harbour can be more captivating than what actually happens when the modern Cup teams compete by racing expensive, hi-tech foiling monohulls.
The list of rows, over design, location, race protests, assets and regulations (to name a few), is long and varied in the Cup’s 155-year history.
The pair, who led INEOS Britannia in Cup campaigns in Auckland (2021) and Barcelona (2024), confirmed their extraordinary split last week, only three months after Britannia’s 7-2 defeat to Team New Zealand in last year’s decider for the Auld Mug.
While Team NZ, the Cup defenders, are yet to comment publicly, there are plenty of questions concerning the Kiwis after the acrimonious separation between the British team’s billionaire backer and their nation’s most successful sailor.
Together, they were the challenger of record for the next Cup cycle, representing the Royal Yacht Squadron. Separated, they could be launching their own challenges for wherever Team NZ decide to host next.
Yes, that would mean two British teams at the next America’s Cup, dividing up the huge resources Ratcliffe and Ainslie had combined to get a British boat in the Cup match for the first time in 60 years after beating the Italians, Luna Rossa, 7-4 in an epic challenger series final.
It’s hard enough taking on the might of Team NZ, the winners of the last three America’s Cups. As the defending team, the Kiwis can also write the rules in their favour.
Both have declared their intentions to challenge — Ratcliffe with his INEOS sporting group that includes the technological prowess of the Mercedes Formula One team; Ainslie with the Athena Racing name the British boats sailed under in Barcelona’s youth and women’s America’s Cups — only months after they slapped high-fives between boats in Barcelona.
Their divorce will get messy. Ratcliffe didn’t thank Ainslie, the team’s principal and co-helmsman, in their separation statement via INEOS and said they were “parting ways”.
Ainslie said he was “astounded” and suggested there were several “significant legal and practical obstacles” ahead for Ratcliffe, but Ainslie will nevertheless need new financial support for a legal fight and a Cup campaign that was reportedly worth about NZ$200 million for Barcelona.
Money won’t be an issue for Ratcliffe, one of the UK’s richest men who owns chemical company giant INEOS. According to Forbes, his reported worth is NZ$28.1 billion.
One dispute will be a fight over Intellectual Property. Shortly after the split, the INEOS Britannia Facebook page (which has since disappeared) changed its logo to Athena Racing.
Another, more pressing matter for Team NZ will be clarifying who remains in charge of the challenger of record: Ratcliffe or Ainslie?
The Brits were the designated representative of the other challengers, who were Luna Rossa, American Magic, Alinghi and Orient Express in Barcelona.
While Ratcliffe and Ainslie seemed amicable in encounters along the Spanish coast, with the former stationed on his superyacht throughout the two-month regatta, there were signs of trouble brewing.
Before the Cup match against Team NZ, Ainslie said Ratcliffe had not yet committed to supporting another campaign.
“Jim and INEOS have been incredible backers of the team,” Ainslie said in October.
“This is the second go around. They come in and give this huge support.”
Referring to the British team he established in 2014, before Ratcliffe came on board with his millions four years later, Ainslie added: “As the leader of the team, I can tell you that whatever the result here, we're going to be continuing on.”
As soon as Ainslie stepped off the boat for media interviews after losing to Team NZ, he was no longer wearing the INEOS-branded clothing he had sported throughout the Cup in Barcelona. He ignored questions about his changed attire.
Neither is likely to back down, as two notoriously stubborn and competitive chiefs in their respective fields.
The infamous 2010 Cup drama between Alinghi and Oracle Team USA dragged on for three years in various courts.
Team NZ intend to stage the next America’s Cup in less than three years, but no time seems long enough to repair Ratcliffe and Ainslie’s wrecked relationship.
One has deep pockets and the other has the sporting ambition and talent to pursue the greatest prize in sailing.
They couldn’t win it together twice. Now it’s one of them or neither at all.