Ineos Pulls Out of America’s Cup as Sir Jim Ratcliffe Scales Back Sports Investments

Ineos ends America's Cup challenge amid wider retreat from high-cost sports ventures, leaving backlash and uncertainty in its wake.

Ineos Britannia Drops Out of America’s Cup

Ineos Britannia, the British sailing team backed by billionaire Sir Jim Ratcliffe, has officially withdrawn from the next America’s Cup, due to take place in 2027. The move comes after stalled negotiations with Sir Ben Ainslie’s new outfit, Athena Racing, and is part of a broader scaling back of Ineos’ sporting investments.

The withdrawal ends Britain's best shot at winning the prestigious event in decades. Ineos Britannia reached the final of the last America’s Cup but lost to Team New Zealand, despite high hopes and heavy investment.

Break with Ainslie Seals the Decision

Ben Ainslie, the five-time Olympic medallist and face of the British challenge, split from Ineos last year to launch Athena Racing. Ineos claims it had swiftly agreed to terms for a joint campaign but was left in limbo due to delays on Ainslie’s side.

“This six-month delay has undermined our ability to properly prepare,” said Ineos Britannia in a statement. “We have reluctantly withdrawn.”

Ainslie has not yet commented publicly.

Sports Portfolio Shake-Up

This isn’t an isolated decision. Ineos has been rethinking its sports strategy in recent months. The company recently:

• Cut hundreds of jobs at Manchester United, where it holds a minority stake
• Faced legal action from New Zealand Rugby, following a failed renegotiation of a sponsorship deal with the All Blacks and Black Ferns
• Began seeking new backers for its cycling team, Ineos Grenadiers

It’s clear the petrochemicals giant is pulling back from expensive, high-profile commitments that no longer align with its evolving financial and strategic goals.

Financial Focus or Falling Out?

Ratcliffe described the decision to leave the America’s Cup as “difficult,” noting the success of Ineos Britannia’s previous campaigns, especially with support from Mercedes F1 engineers.

But insiders point to growing tension between Ratcliffe and Ainslie, which likely played a major role. The ambition to bring Britain its first Cup victory since 1964 now appears shelved—possibly for good.

Potential Backlash Looms

The withdrawal is likely to frustrate sailing fans, team members, and the broader UK sailing community. There may also be reputational fallout for Ineos, which has built much of its brand identity around elite sport.

In other areas, the scaling down of Ineos’ sports portfolio has already sparked criticism—from job losses at Man United to tensions in rugby and cycling. As the company retreats from high-visibility sponsorships, questions are growing about its long-term vision in sport.

End of an Era or Just a Timeout?

Ineos’ exit from the America’s Cup marks more than just a sporting withdrawal—it signals a strategic pivot from years of high-profile investments. Whether it’s driven by tightening budgets, failed partnerships, or changing priorities, the fallout may linger across several sports. And for British sailing, it's a significant step back just when real progress was finally being made.

Sources: (BBC.co.uk, Sky.com, FT.com)