Shockwaves are reverberating around the America’s Cup community after the announcement today by INEOS – two time backer of Sir Ben Ainslie’s British America’s Cup challenges – that the company has parted ways with the four time Olympic champion and will be mounting a challenge for the 38th America’s Cup challenge without him.
The news broke today in a statement on the INEOS corporate website that confirmed the company would ‘enter a challenge for the 38th America’s Cup under the team name INEOS Britannia after parting ways with Sir Ben Ainslie.’
The statement went on to say that the split came after ‘INEOS Britannia and Sir Ben could not find agreement on terms to move forward following the conclusion of the 37th America’s Cup in Barcelona’.
According to the statement INEOS Britannia’s chief operating officer Dave Endean has been appointed CEO of the team which will ‘continue to leverage the design and technology expertise of the Mercedes F1 Team under the guidance of Technical Director, James Allison’.
