INEOS Britannia Abandons America's Cup Bid Amid Athena Racing Dispute
Source: news.source.channelnewsasia
INEOS Britannia has withdrawn its challenge for the next America's Cup due to a failed settlement with former skipper Ben Ainslie's team, Athena Racing. The delay in finalizing an agreement with Athena Racing, which INEOS had hoped would allow both teams to compete, has undermined INEOS's preparation efforts for the upcoming event. This decision marks the end of INEOS's participation in the prestigious sailing competition after two previous attempts.
Key Points
INEOS Britannia announced its withdrawal from the America's Cup challenge due to unresolved issues with Athena Racing.
The dispute stemmed from a failed settlement with Ben Ainslie's new team, Athena Racing, which was crucial for INEOS to continue their challenge.
INEOS had previously parted ways with Ainslie, who led the team in three unsuccessful attempts to win the America's Cup.
The delay in reaching an agreement with Athena Racing was cited as a reason for undermining INEOS's ability to prepare for the competition.
Jim Ratcliffe, INEOS's chief and co-owner of Manchester United, expressed disappointment over the lost opportunity despite previous successes.
