Sir Ben Ainslie has announced his decision to step down as driver of the Emirates Great Britain SailGP team.

Double Olympic gold medallist and America’s Cup team-mate Giles Scott MBE will assume the role as driver but Ainslie, 46, will remain as CEO of the side.

Ainslie, who is the most successful Olympic sailor of all time, insisted he would take the step away from his role as driver to make way for the next generation.

Speaking about the decision, Ainslie – who won medals at five consecutive Olympics from 1996 onwards, including four golds – said: “It’s probably the toughest decision I’ve had to make in my sporting career.

“Like any big decision, there’s plenty that goes into it and a lot of factors at play.

“As the CEO of both Emirates GBR and the INEOS Britannia America’s Cup Team, and most importantly a husband and father, at some point you’ve got to realise that you can’t do everything.

“I’m coming to that point where it’s time to let the next generation come through and have their opportunity.

“We’ve got a huge talent in Giles Scott. He’s one of the best in the sport and he will suit this style of racing perfectly.

“He’s an incredible sailor, one of the best I’ve ever raced with, but he’s also a very mature, level-headed person and that’s why I think he will do a fantastic job in SailGP.

“I’ve loved every minute of sailing in the league. We’ve had some great moments and some challenging moments, but I’ve just loved it.

“It’s the best sailing I’ve ever done in my career, it’s so much fun. We’ve got a great team at Emirates GBR that has a really exciting future and I’m still going to be part of it for many years to come.”

Scott admitted he had some big shoes to fill, saying: “I’ve got some catching up to do, but the Emirates GBR Team is a great squad. Everybody involved is hugely experienced and top-quality sailors.

“I’ve got to step up to the mark and do the best job I can to fill those big old boots that Ben’s left behind.”

Scott takes the driver position, alongside Hannah Mills OBE as strategist, Iain Jensen as wing trimmer, Luke Parkinson as flight controller, Matt Gotrel MBE, Neil Hunter and Nick Hutton as grinders and Hannah Diamond as reserve sailor.