SailGP has completed the private sale of its entire fleet after MSP Sports Capital agreed a majority buyout of the New Zealand team, the final outfit still owned by the competition’s organisers.
The deal marks a landmark moment for the sailing league, which was co-founded by CEO Sir Russell Coutts alongside Oracle billionaire Larry Ellison.
MSP Sports Capital is no stranger to high-profile sports investments, having previously sold its stake in McLaren’s Formula 1 team and loaned £185m to Everton for the construction of their Hill Dickinson Stadium.
The New Zealand team was the last of the 13 SailGP crews to be acquired by private investors, completing a process that Coutts said had been central to the organisation’s ambitions from the outset.
“This is a very significant milestone for SailGP – and one we set out to reach from the very beginning,” said CEO and co-founder Sir Russell Coutts.
“The goal of SailGP has always been to build something that world-class investors and sports operators would want to own – to have MSP Sports Capital, led by Jahm Najafi and Jeff Moorad, join our ownership group is further validation of that vision.”
SailGP has attracted a roster of prominent global investors across its 13 teams, including Ryan Reynolds and Hugh Jackman for the Australian team, Anne Hathaway for Italy, Kylian Mbappe and Ares Management for France, and Mubadala Capital for Brazil.
The announcement of MSP’s takeover of the Black Foils comes ahead of the Canadian leg of the series this weekend, with the competition heading to Portsmouth for UK races in late July.
MSP chairman Jahm Najafi expressed strong confidence in the league’s commercial trajectory following the completion of the deal.
“SailGP is one of the fastest-growing sports leagues in the world, and we are thrilled to partner with Russell Coutts and the SailGP organization,” said Najafi. “We believe the New Zealand team is one of its flagship franchises.”
MSP CEO Jeff Moorad outlined a clear set of priorities for the new ownership’s stewardship of the Black Foils going forward.
“Our vision is straightforward: win championships, represent New Zealand at the highest level, and build on the country’s unmatched sailing culture,” Moorad said.
He added: “[NZ team leaders] Peter [Burling] and Blair [Tuke] are the best in the world at what they do – and we’re delighted to partner with them in this next chapter.”