The British America’s Cup team headed by Sir Ben Ainslie has been rebranded INEOS Team GB with an infusion of $153 million (110 million pounds) from the petrochemical company based in London.
The announcement Thursday marks a radical shift for the team, which had been known as Land Rover BAR, with the BAR standing for Ben Ainslie Racing.
Continue Reading Below
According to a release, INEOS Team GB is launching a challenge for the 2021 America’s Cup and teaming with Ainslie, who will lead the design and build program as well as skipper the yacht.
INEOS says it is making the biggest-ever investment in a British America’s Cup team.
The British lost the silver trophy to the schooner America in 1851 and has yet to win it back.
Ainslie is one of the world’s most successful sailors.
