Sir Ben Ainslie is the world’s most successful Olympic sailor and has been racing competitively for 40 years. As founder and chief executive of Athena Sports Group, which includes the Emirates Great Britain SailGP team and the British America’s Cup team GB1, he has been at the heart of efforts to expand the sport commercially and broaden its reach.
As well as leading Britain’s challenge for the prestigious America’s Cup, he recently helped spearhead significant changes to the governance structure of the 175-year-old competition, designed to make it more investable.
In conversation with Amy Bell, Ainslie discussed the rapid growth of SailGP — the high-speed international sailing league raced in foiling catamarans — and the evolution of the America’s Cup; how to develop the next generation of professional sailors; and finding a balance between his roles as athlete and business leader.
Amy Bell: Sailing has always been fairly niche compared with some other sports, but right now seems like a particularly exciting time. What do you think is changing?
Ben Ainslie: Yeah, it’s like sailing’s going primetime, isn’t it? There has been amazing growth in the sport, primarily with SailGP and the America’s Cup, and it’s such an exciting time to be involved, both competitively and commercially.
AB: What has historically been the main challenge in bringing in commercial partners and reaching a wider audience?
BA: Traditionally, it’s been a number of factors. The racing was long and slow and very hard to understand, and the broadcasting wasn’t at a comparative level to top, high-level sports. The governance of the sport also meant there wasn’t really any structure to the events, so from a broadcasting perspective it was impossible to have a schedule and really get behind teams, and individuals within those teams. Within the last five years or so, there have been some dramatic changes.
AB: Do you think public perception is catching up yet?
BA: I think the evidence from the data is that the perception is changing rapidly. If you look at the audience figures for SailGP last season, they got [nearly 215mn dedicated broadcast viewers], which is groundbreaking for sailing. So it is getting more and more traction. It still has a long way to go to reach the level of a sport like Formula 1, but it’s on that trajectory. And for our team in the last America’s Cup we had a media value of $650mn [an estimate of what the exposure would have cost to buy as advertising].
AB: A big part of the excitement is SailGP, founded in 2019, by Oracle billionaire Larry Ellison and champion yachtsman Sir Russell Coutts, where 13 teams race for a $12.8mn total prize. How would you describe it?
BA: It’s a league that is only six years old, but it’s been designed specifically to commercialise sailing. With Larry Ellison’s backing and guidance, and based on the US sports franchise model, you don’t get relegated, you’re buying into the franchise. It’s about keeping the cost down but having maximum entertainment value.
AB: What’s it like to watch on the water?
BA: I’ve been around sailing all my life and I’ve never seen anything like it. When we take guests to the races, and we have the 13 boats starting together and then they go to the first turning mark — normally off the grandstands — doing 100km an hour within 50 metres of the shoreline, it literally takes people’s breath away. It takes my breath away, and I’ve seen plenty of racing.
AB: Why does it appeal to commercial partners and investors?
BA: The structure of the event: we’ve now got 13 events, we want to grow to 20 — at least one race a month, ideally two in the future. So you’ve got continuity that broadcast partners and commercial partners can really lock into. From the broadcasting and media evaluations that works, and then from the guest opportunity with watching the racing live . . . the hospitality at SailGP is right up there with the very best.
Sports investment is going crazy at the moment, but celebrity investment, for certain teams, brings a whole new audience. We’ve seen that with the Australian team with Ryan Reynolds and Hugh Jackman — their social following has gone through the roof. They’re one of the top teams in SailGP, but primarily it’s because of the social impact that Hugh and Ryan bring. We’ve got Kylian Mbappé with the French team. There are a whole host of other celebrities across the different teams.
AB: How do you see SailGP bringing new people to the sport?
BA: I think it’s attracting a non-sailing audience because the races are shorter and there’s so much action. It’s fleet racing, so there are more boats on the course. It’s building the action and trying to focus on the personalities, be that the athletes or the celebrity backers. What was really interesting with F1, as an observer from the outside, was the impact of the Netflix series Formula 1: Drive to Survive. I know SailGP has been looking at how it can do something similar.
AB: Do you think interest in this superfast elite racing will filter down into other areas of sailing?
BA: The foiling technology that the America’s Cup and SailGP have really spearheaded [using hydrofoils to lift boats above the water and reduce drag] is definitely coming down to the grassroots. You see the youngsters now — OK, they’re still learning in traditional boats like an Optimist [a small dinghy often used by children], but they very quickly want to progress into foiling dinghies. It’s all about the foil, it’s about airtime.
AB: Ahead of next year’s 38th America’s Cup in Naples, you pushed for significant changes to the 175-year-old governance structure. After years of failed attempts, what was different this time?
BA: I think it’s been a long time coming. Ultimately, you ended up with Grant Dalton and Team New Zealand on one side as defender, and myself and our British team as challenger of record, who then have the responsibility to form the next competition. SailGP has shown the sailing world what’s possible if you get organised, and the America’s Cup, frankly, was going to get left behind. I think Grant could see that.
We then had to get all the other stakeholders — other potential teams — involved with that process, which was incredibly difficult. It was no good creating a partnership that was going to work for the two of us and the rest be damned. We had to engage with the other parties to get their feedback and make them feel they had some ownership, which they now do with the partnership.
AB: What were some of the key changes and why do they matter?
BA: It is now a biennial event, whereas previously the winning team, as defender, had significant control over the next edition, so that’s why you never really got continuity. And no doubt we’ll create a circuit in between the main event every two years.
A cost cap, which we’ve seen in so many other sports, has been fundamental. You had massive variation in the budgets of these teams; you could be spending anywhere between $50mn and $200mn for a campaign. Now we’re bringing in a cost cap of €55mn, which is still a significant chunk of change, but it’s much more realistic to raise that commercially.
We’ve seen a lot of the other teams already see significant growth in the commercial partnerships they’re getting. Naples is going to be one of the standout America’s Cups because the Italians are so passionate about sailing. The commercial revenue is going to make it one of, if not the highest, revenue-grossing events.
AB: And what about the changes to the boat?
BA: We’ve made it lighter, we brought the number of crew down. If the boat’s lighter, it will perform better across a range of conditions. No cyclors [sailors who pedal to power onboard systems]. So performance and cost-cutting measures. We then need to go a step further with the next iteration of the boat. Everyone agrees we should stay with the 75ft monohull that we have because that’s a seriously impressive yacht, but we need to go a whole lot further in terms of cost-cutting.
AB: The British team’s partnership with Ineos fell apart last year, and the company is taking legal action against Athena Racing over who owns the boat built for the 2024 America’s Cup . . .
BA: We’ve been very clear from the outset of that fallout, that from our perspective the assets belong to Athena. Ineos are obviously contesting that. We’ll see how that argument develops.
AB: After funding the team yourself for just over a year, you secured Oakley Capital as backer for the team in December. How is that working so far? Is there a timeline for the investment?
BA: The Oakley investment is fundamental to the whole America’s Cup partnership. They have various investments in the marine sector, such as North Sails, one of the biggest sail manufacturers. It’s key because it shows that we can bring in private equity; they’re not going to make that kind of investment unless they can see that it’s a structure that really stacks up in terms of the governance of the partnership.
Typically, with private investment, they say anywhere from three to six years. With this investment, I would imagine it’s slightly longer, because we’ve only just got the partnership going. It’s going to take two or three iterations of the Cup for that really to start bedding in, so you’re talking six years.
AB: And Athena Racing is now back in Portsmouth, after being based in Brackley with the Mercedes-AMG F1 partnership?
BA: It’s great to be back. There’s so much maritime history, we’re in the old naval dockyard. And to have everything under one roof with the Athena Pathway programme, which supports British female and youth athletes, SailGP, the America’s Cup teams and the 1851 Trust — it’s building a good little team environment down there.
AB: It’s a life-long dream for you, to bring the Cup home. Why is it so important?
BA: From a pure sporting perspective, Britain’s never won the Cup. For me personally, I was fortunate to win it with Larry Ellison for the US team in 2013, but that’s why I started a British team: to get that job done.
2027 could be the year. We’ve obviously had a fair amount of turmoil within the team. There was a period of about 12 months where I was single-handedly keeping the team afloat before Oakley came on board. I would say we’re very much a dark horse this next year.
AB: Is there any chance of you being on the boat this time?
BA: I’d never say never.
AB: You’ve described yourself in the past as a frustrated armchair sailor . . .
BA: [Laughs] Yeah, definitely! I think any sportsperson that goes from competing to watching, that’s inevitable. But I have to say, the SailGP team winning last season, winning the league and the final event and the whole season, was a real thrill to watch. I was more emotional watching that than actually competing.
AB: How do you find a balance between your athletic goals and the business side?
BA: It’s fascinating because there are times when, if I had my athlete’s hat on, I’d be pushing for one thing and then you have to put the business hat on and say, well, yes, of course we’d love to do everything, but we can’t because it’s not efficient or the budget won’t allow it. So that’s quite an interesting transition.
AB: What does the growth of SailGP and the America’s Cup mean for the development of the next generation of professional sailors?
BA: It’s critical for these professional teams because you’ve got to have this specific skill set. And now with the demands for the SailGP League and the America’s Cup partnership, that’s only going to grow in terms of the number of events. So as a team operator, you need to be creating pathways to get the talent coming through.
We set up the Athena Pathway programme four years ago to train British female and youth athletes, in the build-up to the Barcelona America’s Cup, when they announced they were going to have a youth and women’s team. We got pretty organised. We put together a team led by Hannah Mills — basically Hannah and I lead that organisation.
We have a centre in Weymouth where the youngsters can go and trial and use the simulator. Then they mostly go into the youth and women’s side of the America’s Cup, but some also go to SailGP. We have apprenticeships, so they might not just be athletes, they may also be part of the shore team or the commercial team.
AB: How does the 1851 Trust fit into that?
BA: The 1851 Trust is all about grassroots, primarily education, so those Stem [science, technology, engineering and mathematics] subjects. When we set up the British challenge for the America’s Cup back in 2014 and started reaching out to engineers for the technical programme, we realised there’s a real shortfall in the UK, particularly in marine engineering. It was a way to use the team to inspire youngsters to get into those Stem subjects. We’ve done it through the sailing teams but we’ve also tapped into other sports. Then we set up online programmes that teachers can access.
Recently we had the live roadshow down at Trinity Buoy Wharf opposite the O2 in London, with 260 youngsters, and they really enjoyed it. They design and build mini sails that they can put into a wind tunnel and have a competition to see which is the most drag and lift effective. We need more athletes; we need more engineers and designers, so it’s a great way to try to access that talent.
AB: The next America’s Cup will be the first time there will be a female sailor on the AC75 race yacht, separate from the women’s America’s Cup, which is run in the smaller AC40. Where did that decision come from?
BA: That came from reaching out to the top female athletes in the sport and asking their opinion: what did they want? They wanted the opportunity to race on the big boat, but they also wanted the opportunity to have their own competition. So that’s what we’ve created. Everyone can see the growth in women’s sport is huge, so for the America’s Cup to have a women’s America’s Cup makes a huge amount of sense.
AB: There can sometimes be backlash when you introduce a rule like that, that there has to be one woman as part of a crew. Have you seen any of that?
BA: No, personally, we haven’t within our team. We engaged with the very top female athletes in the sport, and that was their approach. There may be some people that, for whatever reason, have a problem with that. I don’t know, I haven’t seen that. It might be that it changes down the road because there’s a feeling within the sport and within the competition that we should change that allocation or not have any allocation. Ultimately, it should just be a meritocracy. But you’ve also got to give female athletes the opportunity to race and train and develop those skills.
AB: As these boats get faster, more like F1 on the water, is there any risk of more traditional, classic sailing being lost or left behind?
BA: I really don’t think so. In many ways it’s stronger than ever if you look at the racing that’s going on at the grassroots of sailing, then through to racing or semi-professional racing below SailGP or the America’s Cup. There’s a huge circuit out there. In some ways I think it supports it because there’s such a clear gap between foiling and non-foiling, traditional sailboat racing.
AB: Do you find comparisons with F1 helpful?
BA: Yes and no. Definitely the technology around the America’s Cup and F1 — as we saw with the partnership with Mercedes in the last America’s Cup — is very real. And the glamour and prestige of the America’s Cup is very similar to F1. We’re not at F1 levels in budget or commercially, but who’s to say, now with this governance and a proper structure? That’s finally what the America’s Cup can go chasing after.
AB: How is sustainability being integrated into technological innovation in sailing, such as with the SailGP Impact League, which rewards teams for positive environmental and social action?
BA: The Impact League has been a great initiative, it’s been in the league now for four seasons. We’re really proud, Britain won the last two seasons, but it’s had meaningful buy-in across all the teams and it’s not just tokenism. The reporting’s really in-depth and it’s about being innovative within the team, coming up with ideas and solutions, and collaborating with other teams.
On a broader scale with sailing, it’s a bit of a misconception — it’s a clean sport because we’re out there on the water, we’re using wind power — but a lot of the materials we use, carbon fibre for example, are really energy-consuming.
We have a responsibility as a sport to do a better job to find cleaner materials. How can we use more recycled carbon, for example? We had hydrogen foiling chase boats in the last America’s Cup, which is a great step. How do we keep developing those technologies to not only make SailGP and the America’s Cup cleaner and greener, but then trickle down to the rest of the marine economy?
AB: What are you most excited about in terms of the technology as it continues to evolve?
BA: Foiling is such a seismic shift for sailing and it’s given so many opportunities across the board. Sailing now, with the changes to the foiling boats, has a huge opportunity that it needs to consolidate, with SailGP and the America’s Cup at the pinnacle of the sport.
One thing that is always going to be key is consistency. Certainly, if you look at the America’s Cup, how can we bring the cost of participation down? The cost of the materials, of designing and developing the boats, is a really important factor. And safety — you always want to make these boats safer and more reliable.
Sailing’s busy spell continues this month
The first preliminary regatta of the 38th America’s Cup takes place in Cagliari, Sardinia, from May 21-24, giving teams an early chance to build momentum before Naples 2027. SailGP moves to New York for the Mubadala New York Sail Grand Prix on May 30-31 and then returns to the UK with the Emirates Great Britain Sail Grand Prix in Portsmouth on July 25-26.
AB: Can you describe what it’s like to sail one of these boats?
BA: It’s totally breathtaking. Even if, as an experienced sailor, you haven’t been on one of these boats for a while, you step on board and you lift off, it’s mind-blowing. When you get to speeds of over 100kph and the water is boiling around the foils, so the whole boat is shaking, it can be really unnerving. But like anything else, you do it enough and it becomes something you’re used to.
AB: There was quite a serious crash in a SailGP race in Auckland in February. Did that raise questions about the risks involved?
BA: Yeah, fundamentally it is a dangerous sport. You’re hurtling around in these foiling machines against lots of other competitors. We take safety extremely seriously in terms of the preparation of the equipment, the training of the athletes and the design of the boats, but there’s always more that can be done and there are constant reviews.
That crash with SailGP in Auckland, the review that’s just come through to the teams, which was an independent review, had a lot of suggestions in terms of changes that can be made to keep improving that safety record. As a stakeholder, as a team operator, it’s really critical for us to see.
AB: Aside from the America’s Cup, are there any big sailing goals on the horizon?
BA: I think one challenge I’ve always wanted to tackle would be the Jules Verne, which is nonstop around the world. That’s always been an inspiration. My dad competed in the very first crewed race around the world, the Whitbread, back in 1973, and so I grew up listening to stories of this adventure, which really it was then, because it was totally amateur. Now, of course, these boats are foiling. I think the record, achieved in January, is 40 days nonstop around the world, which is phenomenal. So that’s the next challenge.
This transcript has been edited for brevity and clarity
