As SailGP’s popularity grows, valuations are increasing seemingly as fast as the foiling catamarans zip across the waves.
New sponsors and investors are stepping up. Rolex jumped from Formula One to become SailGP’s title sponsor. Soccer star Kylian Mbappé has bought what’s described as a significant stake in the French team.
A handful of other ownership deals are in the works, and word on the docks is that Jimmy Spithill is close to finalizing an ownership group for Red Bull Italy, which debuted this season.
As SailGP becomes the premier event on the yachting calendar, its teams are building for the long haul, as opposed to the America’s Cup, where big-name syndicates come and go.
The perks are pretty good, too.
Take NorthStar Canada owner Dr. Greg Bailey. His team isn’t one of the profitable ones, yet, but if skipper Giles Scott keeps the team near the top of the season standings, that could be changing.
