London, England (February 6, 2020) – On the verge of embarking on its second season of operation, SailGP has sold a minority stake to global entertainment, sports, and content company Endeavor. Endeavor’s investment position in SailGP values the global sports property at US$200 million after its first season.
In Season 2, seven teams will compete in matched F50 catamarans on what is currently a five event schedule that travels to Australia, United States, and at least two European cities.
As part of the investment, SailGP will benefit from access to the Endeavor network’s expertise across content production, media rights distribution, creative services, licensing, sponsorships and consumer marketing. The value of Endeavor’s investment was not disclosed.
“Endeavor’s partnership with SailGP represents a pivotal moment in our young and developing history,” said SailGP CEO Sir Russell Coutts. “It strengthens our position going into our second season and signals the projected long-term value of SailGP. This is the start of a new era in our sport, and we couldn’t have a better partner than Endeavor.”
Endeavor President Mark Shapiro believes SailGP is transforming the way people view sailing. “For the first time, the sport is being packaged in a broadly appealing, consumable, consistent and exciting format, bringing it in line with some of the world’s top sporting events,” notes Shapiro. “If the first season is any indication, SailGP has incredible potential and strong value for its partners, and we look forward to helping forge the future of the league.”
The circuit was launched in 2018 with private funding from tech billionaire Larry Ellison with a five year plan to become self-sufficient. While new teams for 2020 have come in with their own sponsorship, the original teams that competed in 2019 are actively seeking funding to cover the budget issued by the league.
Australia, Tom Slingsby
Denmark, Nicolai Sehested
France, Billy Besson
Great Britain, Ben Ainslie
Japan, Nathan Outteridge
Spain, Jordi Xammar/ Phil Robertson*
United States, Rome Kirby
* Xammar will helm with Season 1 skipper Phil Robertson (NZL) serving in an interim capacity. Details.
Sydney, AUS(February 28-29)
San Francisco, USA (May 2-3)
New York, USA (June 12-13)
Cowes, GBR (August 14-15)
Copenhagen, DEN (September 11-12)
** A sixth event may be added to the calendar at a later date.
Established in 2018, SailGP seeks to be an annual, global sports league featuring fan-centric inshore racing in some of the iconic harbors around the globe. Rival national teams compete in identical F50 catamarans with the season culminating with a $1 million winner-takes-all match race.
Season 1 – 2019 Schedule
Sydney, Australia (February 15-16)
San Francisco, USA (May 4-5)
New York, USA (June 21-22)
Cowes, UK (August 10-11)
Marseille, France (September 20-22)
SailGP Season 1 Overall Leaderboard
1. Australia, Tom Slingsby, 229
2. Japan, Nathan Outteridge, 223
3. China, Phil Robertson, 171
4. Great Britain, Dylan Fletcher, 169
5. France, Billy Besson, 164
6. United States, Rome Kirby, 163
Note: Total points based on SailGP scoring.
Source: SailGP, Scuttlebutt
Published on February 6th, 2020