Sir Jim Ratcliffe, the Manchester United minority owner, is reportedly reconsidering his financial backing of Ben Ainslie’s America’s Cup campaign following tensions between the pair. The British sailing legend, who has received substantial funding from Ratcliffe, saw his team fall short in the final of the 2024 America’s Cup, losing to New Zealand in October.
Ratcliffe, who has invested as much as £200 million into Ainslie’s two attempts at securing the prestigious trophy, may now pull his support, putting the long-term future of Ainslie’s team in jeopardy. Despite this, Ainslie remains determined to continue his pursuit of the America’s Cup, with or without Ratcliffe’s involvement.
The Ineos-backed Britannia yacht made notable progress in last year’s tournament, winning the Louis Vuitton Challenger Series before facing New Zealand in the final. Though they lost the series 7-2, the two victories marked the first for a British boat in the America’s Cup since 1934, a significant achievement for Ainslie’s team.
A key part of the team’s strategy has been its collaboration with the Mercedes F1 team, in which Ineos holds a 33% stake. Ratcliffe, however, has stated his desire to secure additional third-party sponsorships for the next America’s Cup campaign. If these sponsorships are not secured, he could reconsider his financial commitment.
Ratcliffe’s focus on his Premier League interests has intensified in recent months, with his shareholding in Manchester United increasing to 28.94% in December, a move that cost him £79 million.
His growing involvement at Old Trafford has led to several cost-cutting measures, including reductions in the salaries of club ambassadors like Dennis Irwin and Bryan Robson, the termination of Sir Alex Ferguson’s contract, and increases in ticket prices. Additionally, Ratcliffe has overseen redundancies and cuts to staff benefits at the club.
As Ratcliffe continues to balance his investments across various ventures, the future of his involvement in both Ainslie’s America’s Cup challenge and Manchester United remains uncertain.
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