INEOS Britannia has announced it is parting ways with CEO and skipper Ben Ainslie for the 38th edition of the premier yachting race

The 47-year-old is understood to have been left 'astounded' after cutting ties with Manchester United part-owner Sir Jim Ratcliffe's famed sailing

Britain's America's Cup skipper Ben Ainslie said he was astounded at being dropped by INEOS Britannia after failing to win the trophy last year. Four-time Olympic champion Ainslie's crew was backed to the tune of 100 million pounds ($124 million) by INEOS chief Jim Ratcliffe as he attempted to win the "Auld Mug" for Britain in Barcelona in October.

British sailing great Ben Ainslie will no longer be involved with INEOS Britannia's bid to win the America's Cup after failing to agree terms with the team for their next tilt at the trophy.

Ineos Britannia have announced a parting of the ways with Sir Ben Ainslie as the team’s challenge for the 38th America’s Cup was confirmed. | ITV News Meridian

Four-time Olympic champion Ben Ainslie splits from Sir Jim Ratcliffe's Ineos Britannia America's Cup sailing team.

Ineos has announced that it has split with Ben Ainslie in an end to the two parties’ America’s Cup partnership. Reports had emerged of a breakdown in the relationship between Ainslie and Sir Jim Ratcliffe just three months after their boat became the first British boat to contest the competition in 60 years.