(Reuters) -INEOS Britannia has withdrawn its intention to challenge for the next America's Cup after failing to reach a settlement with former skipper Ben Ainslie's team Athena Racing, the team backed by INEOS chief Jim Ratcliffe said on Wednesday.
INEOS said in January that Ainslie parted ways with Britain's America's Cup team after his third attempt to skipper his country to the trophy ended in failure in October, a decision that left the four-times Olympic champion 'astounded'.
