Ben Ainslie strikes Oakley Capital deal to keep British America’s Cup bid afloat
Most successful Olympic sailor seals financial backing from private equity group for 2027 campaign and beyond
British sailor Ben Ainslie has finally secured the backing he needs for his 2027 America’s Cup campaign, announcing a deal with Oakley Capital on Tuesday after what he admitted has been a stressful chapter in his mission to “bring the Cup home”.
Ainslie’s Athena Racing team said a majority ownership investment from the British private equity group would provide “long-term financial stability to compete not only in the next America’s Cup but across multiple future cycles”.
“Up until now, basically, I’ve been funding the team myself … yeah, I’d say it’s been pretty stressful. But I believed in the team, I believed in the [America’s Cup] partnership, and I was willing to take that risk. So I’m delighted that that’s been worthwhile,” Ainslie said.
As well as being the most successful Olympic sailor, the 48-year-old also lifted the “Auld Mug” in 2013 with Oracle Team USA and has made it his goal to secure a first victory for Britain, where the event was first contested off the south coast in 1851.
However, Ainslie was left without funding for his latest campaign to win the coveted trophy after parting ways in January with INEOS, which had financed his attempts in 2021 and 2024.
Athena Racing said Oakley will help them to take full advantage of the newly formed America’s Cup Partnership (ACP), which has been backed by five teams and will mean the event is now held every two years, raising its visibility for sponsors.