British private equity firm Oakley Capital has agreed to a majority ownership investment in Ben Ainslie’s Athena Racing team, providing long-term funding for Britain’s bid in the 2027 America’s Cup, according to a report by Reuters.
Ainslie, Britain’s most decorated Olympic sailor and 2013 America’s Cup winner with Oracle Team USA, had been self-funding the campaign following his split from previous backer INEOS earlier this year. He described the Oakley deal as “delightful” and a key step in bringing financial stability to the team across multiple future Cup cycles.
Oakley Capital co-founder Peter Dubens highlighted the opportunity to support a historic British sporting challenge. “With strong governance and a neutral management team focused on audience and media growth, the competition is set to broaden its appeal, improve accessibility and ensure long-term sustainability,” he said.
Under the new America’s Cup Partnership (ACP) framework, teams face a spending cap of €75m for the AC38 campaign, reducing to €55m for subsequent events. Oakley’s backing positions Athena Racing to compete effectively against defending champions New Zealand in Naples, Italy, in 2027.
Ainslie will remain team principal, with plans for a rebrand and modifications to the team’s previous boat, which is being transported from Barcelona to Naples. Sponsorship discussions are underway, though no announcements are imminent.
