Ben Ainslie's Athena Racing confirmed as Challenger of Record

The divorce between Jim Ratcliffe and Ben Ainslie at Ineos Britannia has put into question who holds the title of Challenger of Record for the 38th America's Cup. The Royal Yacht Squadron, the British yacht club that signed the document of first challenger, has opted for Ainslie and his new team, Athena Racing.

After weeks of silence from the Royal Yacht Squadron, the prestigious Isle of Wight club has finally announced that “ Athena Racing represents the Royal Yacht Squadron, the British entry for the 38th America’s Cup, led by Sir Ben Ainslie .” It added that “ it is an honour that Athena Racing will be the Challenger of Record for the 38th edition ” and that they will work with the Royal New Zealand Yacht Squadron to agree the protocol for this next event.

However, there is silence from the America's Cup organisation . The organisation echoed the split between Ratcliffe and Ainslie on its website, but there has been no update on the matter on its channels since then. In fact, the announcement from 8 November naming the "Royal Yacht Squadron Limited, represented by Ineos Britannia, as the Challenger of Record" for the next edition is still on its website. After the announcement from the English club, it is assumed that at least that sentence should be edited to confirm Athena Racing as the new first challenger.

While awaiting ratification by the America's Cup, the news has calmed the spirits after the outbreak of the British civil war in the world of the Cup. The bombshell of the divorce between the powerful businessman and the best Olympic sailor of all time caused much uncertainty among the fans. Jim Ratcliffe dispensed with Ben Ainslie and began to work on the design of the new boat with a team of 100 designers and engineers, backed by the know-how of the Mercedes Formula 1 team and with the financial security provided by the chemical group Ineos, whose owner is Ratcliffe, the richest man in the United Kingdom. Meanwhile, the British skipper was left without his main sponsor but could boast of the support of the water team and activated Athena Racing as a team, taking advantage of the experience in the women's and youth editions of the Barcelona event.

"If one thing is clear, it is that in Britain Ben Ainslie is a very popular man and has a lot of support , and they are supported by influential people, so he will probably be able to raise the financial resources necessary for an America's Cup campaign," says Magnus Wheatley, a British journalist specialising in this subject.

In fact, Ainslie is the owner of the British SailGP team, the Emirates GBR Team, which leads the rankings of the flying catamaran circuit and has proven its ability to attract sponsors. For example, two weeks ago they announced JP Morgan as a new partner. The financial institution and the sailor already enjoyed a business relationship of no less than 15 years during Ainslie's time in Olympic sailing.

However, things are getting more complicated for Ratcliffe beyond the Copa America . The New Zealand rugby team is suing the owner of Ineos, which was the main sponsor of the All Blacks, for non-payment and breach of the sponsorship contract. There are also problems at its Premier League football club. Following Ratcliffe's orders, Manchester United has implemented a series of cost-cutting measures, including the dismissal of around 250 people.

So now the question is whether the tycoon will continue to insist on playing in the Copa America or throw in the towel . If he lets his pride guide him, we will probably see another chapter of this soap opera in the courts. It would be nothing new in the Copa America.