Mubadala has been involved with SailGP since it first sponsored the league in 2022Kai Schwoerer/Getty Images
Mubadala Capital, a subsidiary of Abu Dhabi’s state-controlled Mubadala Investment Company, is acquiring a new SailGP team that will be based in Brazil. The team will join the league for Season 5, which begins this November, and be operated by IMM, a Brazilian sports and entertainment agency controlled by Mubadala. SailGP managing director Andrew Thompson said the new team’s slate of minority investors will be finalized in the coming weeks and months; he declined to share details, but said the list will feature notable Brazilian athletes, including a “major star.” He has high hopes for the role Mubadala can play in SailGP’s future growth plans.
“They have a huge global reach, which is something that’s attractive for us as a league right now, given we’re in so many territories,” Thompson said. “In terms of a team owner, they’ve got a huge wealth of expertise in this area. … We’re interested to see how they can help shape our league and take their learnings from other sports and continue to evolve what we’re doing.”
Mubadala has been involved with SailGP since it first sponsored the league in 2022, a two-year deal that gave the Arab investment giant the title sponsorship of SailGP’s San Francisco race. The relationship was expanded to a global partnership last year. Under that agreement, Abu Dhabi hosted its first SailGP race earlier this year, and Mubadala is now title sponsor of both that race and the one in New York City, which will take place this coming weekend. Thompson added that the league’s Grand Final will move from San Francisco to Abu Dhabi for the next two seasons. Mubadala has provided support for SailGP Inspire, the league’s youth-focused community outreach program, and Mubadala-owned Strata Manufacturing will develop new parts to be used on SailGP boats starting next season. That three-year deal runs through Season 6 in 2025-26, though Thompson noted it can be extended for an additional two years.
Financial details of Mubadala’s team acquisition were not available, though Thompson said it will mark a record team valuation for the league. The prior high-water mark was set when Marc Lasry’s Avenue Sports Fund led the acquisition of SailGP’s U.S. team last November. That deal was said to be valued at nearly double the $40 million price tag for the league’s Great Britain team. Latham & Watkins provided legal advisory for Mubadala.
The Mubadala-controlled IMM will manage day-to-day team operations. The Brazilian firm is led by Alan Adler, a three-time Olympic sailor for Brazil who Thompson said will have a minority stake in the team. IMM operates events including the Rio Open tennis tournament, and Adler separately leads Brazil Motorsport, which promotes the Formula One race in Sao Paulo. Mubadala has long made Brazil a focus of its investment strategies; within sports, the Emirati investment firm owns the Rio Open and has a 20% stake in Brazilian soccer league LIBRA’s commercial business.
Thompson said SailGP is now examining the possibility of putting a race in Brazil, though no plans have been finalized. Other top priorities for SailGP currently include further expanding the team ranks – decorated American driver Jimmy Spithill is leading efforts to launch an Italian team for next season – as well as the race calendar. This year’s schedule, which concludes next month, features 13 events.
“We’re looking at 18 events, but how do we get there? That’s sort of our north star,” Thompson said. “It’s a really positive time for us as a league, but we’re still not the finished article yet. There’s a long way to go, and I feel like we’ve just scratched the surface. Hopefully we can continue to interest fans around the U.S. market when we come back here for more events next season.”
