Sir Jim Ratcliffe's Ineos has initiated legal action to reclaim the Britannia yacht from Sir Ben Ainslie's Athena Racing team, now rebranded as GB1. The dispute stems from the £180 million vessel used during the 2021 and 2024 America's Cup campaigns, which Ineos claims belongs to them despite Ainslie's team maintaining ownership.

The legal battle follows the breakdown in relations between Ratcliffe and Ainslie, who split at the start of 2025 after seven years of collaboration. Ineos accuses Athena Racing of causing a costly six-month delay to settlement talks and abandoning plans to challenge the 2027 America's Cup. The petrochemical giant invested £350 million total across two boat generations for the campaigns.

GB1 counters that assets have always been in their possession, appreciating Ineos's sponsorship while maintaining their position on the boat's ownership. Four-time Olympic champion Ainslie previously described the split as a "difficult decision" due to differing opinions on the team's direction. The legal proceedings now determine who controls one of Britain's most successful competitive yachts.