Sir Ben Ainslie has reported that fund raising for his British challenge is “in a good place.” Ainslie is targeting $100 million – the amount he believes he needs to mount a competitive challenge. He has been lining up suport from private individuals while waiting for details of the next America’s Cup to be announced, probably in March. In order to close commercial sponsorship deals, Ainslie needs the details of the Protocol for the 35th America’s Cup and the Class Rule defining the type of yachts to be raised. In the meantime, Sir Keith Mills, Charles Dunstone and “two or three” other private investors are said to be providing initial backing.
Ainslie announced that JP Morgan will sponsor the Ben Ainslie Racing Team in the 2014 Extreme Sailing Series. His crew will include the Olympic gold medallists Paul Goodison and Pippa Wilson. With no America’s Cup World Series racing planned in 2014, several teams hopeful of challenging for the America’s Cup will be racing on the Extreme Sailing Series circuit.