America’s Cup chaos as US entry withdraws two days before deadline Sport Business US sailing team American Magic has withdrawn from the next America’s Cup after British entry Athena and holders New Zealand signed a new commercial deal. American Magic, whose founders include Indianapolis Motor Speedway owner Roger Penske, cited issues with the present structure, insisting it “does not provide the framework for American Magic to operate a [...]
Exclusive: America’s Cup deal opens door to sailing prize money Sport Business The new commercial partnership signed as part of the coming 38th America’s Cup opens the door to the world’s oldest sporting trophy offering prize money, City AM can reveal. An agreement signed by the defending champions, The Royal New Zealand Yacht Squadron, and the British challenger, The Royal Yacht Squadron, is seen as a seismic [...]
Man United investor Ineos splits with key sport figure Sport Ineos, minority investors of Manchester United, split with a key sports figure on Thursday, citing a failure to agree over the future. The Sir Jim Ratcliffe-owned chemicals giant and British Olympic gold medal winner Sir Ben Ainslie have parted ways following Britain’s first appearance in an America’s Cup final in 60 years. The two parties [...]