Ineos Britannia Withdraws from America's Cup Challenge

Sir Jim Ratcliffe's Ineos Britannia has withdrawn from the 38th America's Cup due to a protracted negotiation with Sir Ben Ainslie's Athena Racing, which undermined their preparation time. This decision follows a six-month delay in reaching an agreement that would have allowed both teams to compete, with Ineos Britannia blaming Athena for not concluding the agreement in a timely manner. Ineos had initially intended to proceed solo after parting ways with Ainslie in January over disagreements on team ownership and intellectual property. Despite being the first British team in 60 years to reach the Cup match in Barcelona, the fractured relationship with Ainslie led to complicated legal and practical obstacles. Ratcliffe expressed disappointment, citing the team's potential with contributions from Mercedes F1 engineers, and Ainslie has claimed that Athena Racing holds the Challenger of Record status for the next Cup.