Ben Ainslie on America’s Cup, Sir Jim Ratcliffe and backing Ineos Britannia
Ineos Britannia is a boat designed to do something Great Britain has never done before: win the America’s Cup.
It is the oldest international sporting trophy in the world and is very, very expensive to win – an America’s Cup boat can cost upwards of $10m.
Ineos owner Sir Jim Ratcliffe has put his considerable fortune behind Sir Ben Ainslie’s boat, as well as Mercedes Formula 1, the All Blacks, Nice football club and, most recently, Manchester United.
But in America’s Cup racing, where every gained percentage point is an advantage over opponents, individuals like Ratcliffe and the sponsors they can attract are key to funding success.
Ainslie supporters
“Ineos have really invested massively in sport the last five or six years,” Ainslie, speaking on behalf of Estrella Damm, told CityAM
“I think we were one of the first sports teams that they invested in back in 2018 or 2019, and yes, since then, that’s just grown and grown, of course, most notably and famously with Manchester United recently.
“Jim’s very, very passionate about sport and he really enjoys the America’s Cup. He enjoys the challenge; I think the bigger the challenge the more enjoyable it is.
“But we also have other partners from within the Ineos brand with the Grenadier car. And then of course Estrella Damm, who are really a local supporter of the team, being a local Barcelona brewery, and it’s great to see their support in particular during this America’s Cup.
“The last time they were involved with the America’s Cup, I believe, was in 2007 when it was in Valencia. And they were involved then with the New Zealand team, which I was actually a part of.
“So it’s been great to reconnect with the team there all these years later. And we’re really proud to be supported by such a strong, iconic local business and industry.”
The challenge
Britain lost the first America’s Cup in 1851 and have not won it since, though Ainslie was on the New Zealand boat that came from 8-1 down to win 9-8 in 2013.
His Britannia vessel includes the likes of Olympian Giles Scott.
“Our goal, of course, is to win, and that’s why we’re here, and that’s why Jim supports us, and frankly that’s why he is supporting all of the teams that he does,” Ainslie added.
“But he’s also a keen sportsman himself and he understands that sport is not as simple as just investing in a team and expecting the results to be perfect. It takes time.
“We’ve seen that with the Formula 1 team, who have struggled in the last two or three years, but as we saw in Silverstone, with Lewis [Hamilton] really starting to get to grips the car and getting themselves back up to the top where they deserve to be.
“[Then you have the] cycling team, the All Blacks, Eliud Kipchoge breaking the two hour marathon – a pretty exceptional performance.
“I think Jim has seen enough and competed enough himself to know that it takes time. And he’s invested in these sports because he really believes in them and wants to, wants to be there and achieve the goals.”