New York, NY - June 21, 2024 - Mubadala Capital, the wholly-owned asset management subsidiary of Mubadala Investment Company, and SailGP, the global racing championship, today announced a strategic investment to acquire a newly-formed SailGP Team to represent Brazil. Brazil will be the first South American team to join the SailGP league and the first of new teams and new ownerships confirmed ahead of Season 5.
Celebrating the announcement, SailGP CEO Sir Russell Coutts said, “Brazil has achieved an incredible history of success in Olympic sailing and it’s fitting they are now entering the professional ranks of SailGP – competing against the best in the world. This opens up a new and very significant market for SailGP and we’re incredibly excited to further develop Brazil’s passionate fan base and strengthen our connection to the region.”
"We are thrilled to partner with SailGP to form the first-ever South American SailGP Team," said Oscar Fahlgren, Chief Investment Officer of Mubadala Capital. "This acquisition not only adds to our investment portfolio but also aligns with our long-term commitment to investing in Brazil, while enhancing our ability to create lasting positive social and environmental impact."
The Mubadala Brazil SailGP Team will partner with Brazilian sports and entertainment firm IMM to operate the team. Owned by ex-Brazilian Olympic sailor, Alan Adler (CEO), IMM’s portfolio includes some of Brazil’s most iconic events, including the Rio Open, Cirque Du Soleil and São Paulo Fashion Week. Adler is also CEO of Brazil Motor Sports, the promoter of the São Paulo Grand Prix Formula 1 race.
With the full team line-up set to be revealed in the coming months, Adler expressed his excitement: “We are eager to engage the passionate Brazilian fans and bring this dynamic team to life. The Mubadala Brazil SailGP Team will inspire and connect with our community, promoting the sport and its values across South America.”
Brazil will join the startline of the global racing championship from the beginning of Season 5, which commences in November 2024. The most exciting racing on water, SailGP is a global championship with national teams battling it out in identical high-tech, high-speed 50-foot foiling catamarans at iconic venues around the world. Now in its fourth Season, SailGP provides 13 events in a year-round calendar, with further expansion slated for Season 5.
The formation of the Brazilian team marks an exciting chapter in SailGP’s expanding relationship with Mubadala. Last year, Mubadala announced its Global Partnership with SailGP, solidifying a commitment that extends through the 2026 season. Mubadala will serve as Title Partner for SailGP's New York event this weekend, having previously sponsored events in San Francisco and Abu Dhabi.
Mubadala’s Chief Communications Officer, Brian Lott said, “Together with SailGP, we are building a community dedicated to creating a better sport and a better planet. There is strong alignment between our responsible investing approach and SailGP’s ambition to be the world’s most sustainable, purpose-driven global sports and entertainment platform. This partnership reflects our commitment to supporting the communities and regions where we invest, aligning our capital deployment with local community engagement.”
SailGP and Mubadala’s partnership also extends off the water. Last month, both organizations announced a new production partnership with Strata Manufacturing, a Mubadala-owned aerospace facility, to develop and manufacture new SailGP hydrofoils and rudders to be introduced in Season 5, as well as other key elements of SailGP’s F50 catamarans. The partnership also emphasizes building a sustainable future - integrating responsible investment practices with cutting-edge technology and promoting environmental stewardship within sport. Mubadala will continue to support SailGP Inspire - the league’s youth community outreach and education program - which has reached a significant milestone, engaging 21,256 participants to date.
Beginning tomorrow (Saturday, June 22), the Mubadala New York Sail Grand Prix marks the penultimate stop on the Season 4 calendar before the winner-takes-all Grand Final in San Francisco (July 13-14). Tune into this weekend’s action, or catch it in person - with tickets available at SailGP.com/NewYork and media accreditation open here.
CONTACT SAILGP | Nat Fortier | Global Communications Director, SailGP | nfortier@sailgp.com | USA: +1 332 273 5467
CONTACT MUBADALA CAPITAL | Natalia Moreno | Head of Communications, Mubadala Capital | nmoreno@mubadalacapital.ae | USA +1 (202) 425-2279
MEDIA HUB | The SailGP Media Hub is a dedicated space for media to be able to cover SailGP events remotely and includes live streams and updates, press conferences participation and post-race athlete interviews. Access the SailGP Media Hub via mediahub.sailgp.com.
ABOUT SAILGP | The most exciting racing on water, SailGP is a global championship with national teams battling it out in identical high-tech, high-speed 50-foot foiling catamarans at iconic venues around the world. Racing faster than the wind at speeds approaching 100 km/h // 60mph, SailGP competes in iconic venues around the world in an annual event calendar. Visit SailGP.com to find out more.
ABOUT MUBADALA CAPITAL | Mubadala Capital is the wholly owned asset management subsidiary of Mubadala Investment Company, a c. $302 billion global sovereign investor headquartered in Abu Dhabi, UAE. Mubadala Capital manages c. $24 billion in aggregate across its own balance sheet investments and in third-party capital vehicles on behalf of institutional investors, including four flagship private equity funds, four early-stage venture funds, three funds in Brazil focused on special opportunities and a highly diversified evergreen investment strategy focused on private market opportunities, as well as a series of co-investment vehicles, SPVs and continuation funds.
