
Britain have never won the America's Cup but have a fresh $153 million injection in a bid to break that duck.

Ben Ainslie, a four-time Olympic champion and former Cup winner with Team Oracle USA, will see his team backed by Jim Ratcliffe, Britain's richest man, to the tune of $153M.

Ratcliffe is the founder of petrochemical company Ineos.

Ainslie will skipper the newly named Ineos Team UK in its bid for Cup glory in New Zealand in 2021.

Ainslie will overhaul his design team and sailing crew in his bid to make history.