Ben Ainslie's British Team announced on Wednesday that they will compete for the America's Cup under the name GB1; Dylan Fletcher has been named as the helmsman for their latest attempt to?lift this coveted trophy.

GB1 has not named a second helm to support Ainslie in his fourth attempt to "bring home the Cup", which is backed Oakley Capital. An investment firm whose majority stake in Ainslie’s America's Cup Team was acquired last month by Oakley Capital.

The British team is expected to unveil its new GB1 identity in Naples, Italy on Wednesday. This will be the host city for the 38th edition and the 38th anniversary of this 174-year old event.

"GB1 is thrilled to have Dylan at the helm of our AC38. He worked hard to earn his seat and 'his results on water don't lie, said Ainslie 48, team principal of GB1, who left INEOS at the end of the last race in Barcelona.

"Olympic - and SailGP champion and an America's Cup Finalist in five years. These are no small feats, and they highlight his absolute devotion to performance?on water." Ainslie added, though he hasn't yet confirmed if he would be aboard.

Fletcher and Ainslie were co-helm in 2024, when they?were defeated in the head to head match by New Zealand defenders.

"Reaching finals last time was a great accomplishment for the team, but being so close to it drives us even more. "I know how dedicated the entire organisation is to win the Cup for Britain," said the 37-year old sailor.

The ACP event will be the first time that the five teams -- Emirates Team New Zealand (ETNZ), GB1, Italy’s Luna Rossa and Switzerland’s Tudor Team Alinghi -- will have met since the formation of the new framework in November last year.

The Bay of Naples will be a stunning venue for these amazing racing machines, said GB1 CEO Ian Walker. He was referring to the high-tech AC75 monohulls with foils.

The winner of this challenger selection series will have the opportunity to compete against New Zealand for the "Auld Mug", a trophy that was first contested off the south coast of England in 1851 but which has never before been won by a British crew.

Hannah Mills, the team principal of Britain's Athena Pathway Programme, and the helmsperson for the second edition Women's America's Cup has opened the application for the British Youth Team that will compete in Naples.

The 38th America's Cup marks the first time that women will race in every boat competing, which is an important moment for our sport. "It will pave the way for equality for future sailors," said Mills, also 37. (Reporting and editing by Clare Fallon; Alexander Smith)

(source: Reuters)