British yacht racing team and Challenger of Record Athena Racing has announced that it has secured a majority ownership investment from private equity firm Oakley Capital.
According to the racing team, the investment has been set out to provide long-term financial stability to compete not only in the next America’s Cup (Naples 2027) but across multiple future cycles, as well as allowing the team to take full advantage of the new landmark America's Cup Partnership, which was signed earlier this year. Alongside Athena, Oakley Capital was at the forefront of the ACP negotiations.
“I’d like to pay credit to Peter Dubens and the team at Oakley Capital for the critical role they have played in helping Athena and the other teams to shape this new partnership for the America’s Cup," said team principal Sir Ben Ainslie. "Previously a Defender-led, winner-takes-all format, the America’s Cup now moves into a unified chapter that gives every team a seat at the table and a shared focus on commercial growth and continued technical innovation. With Oakley’s backing and expertise, and by drawing on the next generation of sailors with our Athena Pathway Programme, Athena is well positioned to help grow the Cup into one of the world’s most iconic and commercially successful sporting properties.”
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Oakley Capital brings extensive experience in high-performance sports and upscaling global businesses, as well as a "strong track record of empowering ambitious management teams".
The investment establishes a new ownership structure for Athena, which now sees Sir Ben Ainslie, alongside the team's recently appointed CEO, Ian Walker, focus on governance, commercial development and providing support to the team's performance programme. Nick Holroyd has also been re-signed as head of design.
Sir Ben Ainslie will continue to retain a significant shareholding in the racing team as part of the developing Athena Sports Group (ASG), which also comprises a majority ownership of the Emirates Great Britain SailGP Team and the Athena Pathway Programme, the Youth and Women’s America’s Cup Teams, which was established to build a long-term equitable pathway into high-performance sailing.
Peter Dubens, co-founder and managing partner of Oakley Capital, added: “The America’s Cup is the pinnacle of sailing and an icon of sport, won by only four nations since 1851. We’re partnering with Sir Ben and the Athena team precisely as the Cup enters a new era. With strong governance and a neutral management team focused on audience and media growth, the competition is set to broaden its appeal, improve accessibility and ensure long-term sustainability.”
Oakley Capital will support Athena Racing by accelerating commercial partnerships, expanding brand visibility and scaling operations.
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