With a loaded war chest and a new moniker, Sir Ben Ainslie believes the 36th America's Cup will be Britain's best opportunity yet to get their hands on the Auld Mug.

The competition started in Britain in 1851 and the nation has been longing for a win ever since.

In 2021, they will run a two-boat challenge as INEOS Team Great Britain — thanks to a new naming rights sponsorship that will pump $216 million into their campaign.

When approached for comment on the significant boost, Team New Zealand (TNZ) said they were expecting Ainslie and the British team to be a force in Auckland, as they had been in Bermuda last year.

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They were quick to point out, however, that the number of boats a team had didn't necessarily translate to success.

"We had one boat in Bermuda, Oracle built four test boats and, with the Japanese team as their surrogate, effectively had two race boats," Team NZ said.

"It's how you use your resources. In the end, it's about combining people and technology to create a winning package.

"The [2021] event will be all the better for Ben's team in it, and we
will work hard to try to hold the Cup and defeat whoever makes it through the Prada Cup to challenge us."

The 2021 campaign would be the second for Ainslie's team, who were expected to again be among the contenders after making the challenger semifinals on the Great Sound.

With experience in the TNZ and Oracle Team USA systems, Ainslie knows what it takes to win the Auld Mug and said the team's war chest would help them achieve that.

"Britain now has its best opportunity to bring the America's Cup back home where it belongs," Ainslie said.

Jim Ratcliffe, founder and chairman of INEOS, a large petrochemical and manufacturing company funding the campaign, echoed the statement.

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"INEOS has taken on many serious projects in the past but none more exciting than this. We have a first-class team and will do everything we can to bring this trophy back to Britain where it belongs," he said.

The British team was one of three confirmed challengers for the regatta, alongside Italy's Luna Rossa and a challenge from the New York Yacht Club.

However, Team NZ boss Grant Dalton said earlier this month the team were hopeful more challengers would come forward before the deadline.

Up to five challengers can be accommodated at the event base on Auckland's waterfront.

Entries for challengers close on June 30, with a late entries deadline of December 31.