Ainslie secures title sponsor for America’s Cup tilt

16 August 2012 | Posted in Sponsorship, Sailing, Global | By David Cushnan

Olympic champion Ben Ainslie has secured JP Morgan as the title sponsor of his new eponymous sailing team, which he plans will contest the 35th America's Cup.

Although formal confirmation was expected on Thursday, Ainslie used his column in Britain's Daily Telegraph newspaper to announce a two-year deal which will see his team renamed JP Morgan Ben Ainslie Racing (BAR) when it races in the America's Cup World Series, the new, more regular offshoot of sailing's most prestigious event.

Writing in the Daily Telegraph Ainslie said of the deal: 'It is a massively important step for the team, buying us time as we look to build credibility and competitiveness.'

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Ainslie already has close links to JP Morgan. The financial services firm has sponsored his last two Olympic campaigns.

BAR will compete in the next two America's Cup World Series seasons before making a challenge for the Cup itself. Ainslie, who won his fourth Olympic gold medal at London 2012, will sail for the defending Oracle team in next year's America's Cup match before turning his attention fully to his own team's challenge.

Ainslie added: 'The plan is to compete in the World Series for two years whilst simultaneously gaining experience as part of the main Oracle squad.

'Hopefully JP Morgan BAR can be competitive, build credibility and attract the neccesary funding and partners to make a full-blown assault on the America's Cup proper.'

Ainslie is flying to San Francisco, where the next America's Cup will be held in September 2013, this week to begin preparations.