If you’ve been following the saga, you probably saw it coming.
The warning signs started flashing earlier this year when Ratcliffe abruptly cut ties with Sir Ben Ainslie in the aftermath of the 37th America’s Cup. The split was sharp, public, and frankly, a little bizarre given the team’s progress in Barcelona. Still, Ratcliffe insisted he wanted back in. He talked about a new campaign in partnership with Mercedes F1. Hinted at fresh ambition. But let’s be honest—nobody really believed he was all-in.
Now, after months of backchannel discussions with Ainslie’s Athena Racing, Ratcliffe is out. And rather than walk away quietly, a statement was issued on the Ineos Sport website that dropped the blame squarely at Ainslie’s feet, accusing him of dragging negotiations aimed at both companies mounting AC38 challenges past the point of no return.
“Ineos Britannia had agreed the substantive terms very quickly,” the release said, “but Athena has failed to bring the agreement to a timely conclusion.”
There’s no mention, of course, of the team that carried the Inoes flag through two Cup cycles. No credit to Ainslie, the most successful British skipper in modern America’s Cup history, or the sailors and shore crew who helped deliver a boat fast enough to get them within sight of the Match. Instead, the final message reads like a boardroom memo: cold, calculated, and deeply unaware of the reality of Cup campaigning.
There's been no official word from Ainslie on the Ineos withdrawal, perhaps simply because he has already moved on.
Afterall, he’s got the endorsement of Royal Yacht Squadron – the Challenger of Record – in his back pocket, and a the makings of a serious AC38 campaign are already underway. So why would he split the stage with a second British challenger? Why would he burn time and money trying to align visions with a rival syndicate? It doesn’t add up.
In 2000, Ainslie showed the world exactly how he behaves under pressure when he clinched Olympic gold in Sydney by taking Brazilian rival Robert Scheidt out of contention in one of the most ruthless final race tactics we’ve ever seen. It wasn’t pretty, but it was clinical—and effective. That’s how Ainslie plays when the stakes are high.
And the America’s Cup? That’s the highest stakes game in sailing. Now, with Ratcliffe gone, Ainslie stands alone as the UK's best and only shot at winning the 38th America's Cup.
There’s still no venue, no official date, and a whole lot of detail still to be decided. But one thing’s already clear: the elimination series has already started—and if this off-the-water exchange is any indication, Ainslie is very much playing to win.
Get all areas access to Yacht Racing Life with a Full Membership free 30-day trial. There's no obligation and you can cancel at anytime.
