"Ineos is surprised that the boat we built for the last America's Cup has been taken by Athena Racing. The boat belongs to Ineos and it is inappropriate to assume it can be used for the next competition without seeking our permission."
"The boat was the most successful British boat in history and cost Ineos £180 million, and evolved naturally from the first boat, which cost a further £170 million."
"Ainslie's team, now rebranded as GB1, will be the challenger of record for the 38th America's Cup in Naples next year, with Oakley Capital announced as major investors in December."
"GB1 issued a statement in response, in which they said they appreciate the sponsorship and support of Ineos over the last two campaigns but maintained the boat belonged to them."
Ineos Group, led by Sir Jim Ratcliffe, is pursuing legal action against Sir Ben Ainslie regarding the boat Britannia, used in the 2024 America's Cup. Ineos claims the boat, which cost £180 million and was the most successful British boat in history, rightfully belongs to them. Ainslie's team, now known as GB1, asserts ownership of the boat and plans to use it in the upcoming competition. Ineos had previously withdrawn from the next race due to delays in negotiations with Ainslie's team.
Read at www.theguardian.com
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