The Canada SailGP Team has been acquired by Canadian biotech entrepreneur Dr Greg Bailey, SailGP can confirm.
The news follows months of speculation about the team’s future and secures Canada’s place on the 2024/25 Season start line.
SailGP managing director Andrew Thompson described the sale as ‘another milestone’ for the league.
“SailGP continues to attract interest from a range of different investors and ownership groups. In many ways, this transaction validates the business model - a professional sports team has acquired new ownership and in doing so, retains position in the league; to my knowledge that’s not happened in sailing before.”
He added: “Canada is one of SailGP’s fastest-growing emerging markets, and we’re excited to bolster this passionate fanbase with a now-confirmed Canadian team.”
The sale marks the first foray into sport for Bailey, who is co-founder and executive chairman of biotech company Juvenescence and chairman of Max Insurance, a Canadian property and casualty insurance company.
Bailey said it was ‘important’ to him to ensure Canada’s representation in the nation vs nation format of SailGP.
“With today’s announcement, not only will the Canada SailGP Team continue to race in Season 5 and beyond, but by building on strong foundations we believe this team also has every chance to be on the podium this year,” he said.
Bailey is joined by new team principle and CEO Phil Kennard. Kennard is no stranger to elite racing - he is former UK champion in the 49er Class (2004) and has also held commercial roles with the PGA Tour and teams competing in the 35th America’s Cup and Formula 1.
The news comes as the team announced former driver Phil Robertson will be replaced by double Olympic champion Giles Scott, who drove for the British team last season.
In addition to Scott, much of the team’s top talent has been retained, including flight controller Billy Gooderham, wing trimmer Paul Campbell-James, and grinders Tim Hornsby, Jareese Finch, Cooper Dressler and Tom Ramshaw.
Strategist Annie Haeger will be joined by Georgia Lewin-LaFrance, who returns to the roster following on her 2024 Olympic campaign.
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