SailGP attracts ‘about 15' bidders for two new teams ahead of 2026 season

New York Times

19-07-2025

SailGP has attracted more than a dozen bidders as they seek to sell two new teams for the 2026 season.
In April, Russell Coutts, the CEO and co-founder of SailGP, announced the global sailing championship's plans to grow from 12 teams to 14.
The tender process, which is being structured by Deloitte, got underway earlier this month.
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And ahead of this weekend's Emirates Great Britain Sail Grand Prix in Portsmouth, Andrew Thompson, SailGP's managing director, revealed that it has been extremely competitive.
'I think we're at about 15 (bidders) at the moment,' Thompson told The Athletic. 'The bids close on August 15, and then we will make a decision.
'We've been talking to various parties for the last couple of years and we have kind of funnelled them all into the same place, so I'd be amazed if all of a sudden somebody else just came in now, but you never know.
'I think we've got some really strong groups that are forming.'
There has been a recent celebrity investment boom in SailGP, with Hollywood actors Ryan Reynolds and Hugh Jackman taking over the Australian team in June, while Hollywood actress Anne Hathaway is part of a consortium that bought the Italian team in May.
This followed Kylian Mbappe, the Real Madrid and France striker, purchasing a stake in the French SailGP team via his Coalition Capital investment firm in March.
SailGP still owns the New Zealand and Spain teams and are looking at how they can bring new investment into them.
Asked if it is a case of the highest bid wins, Thompson explained how multiple factors are taken into consideration.
'A high bid is attractive, but there's also the market factor, so we look at our high-growth markets in the future; Mexico, China, Asian markets, and there are still some European markets that we want to look at as well,' he added. 'The Middle East is very attractive.
'It's a price market, but also the profile of the group as well.
'We want people to have the same vision as us to grow this sport. We are not looking for people to come in and buy a team, and then flip it in one or two seasons.'
Argentina, Mexico and Sweden have been touted as two potential newcomers for the 13th and 14th teams, while China and Saudi Arabia are also yet to have a team.
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The two F50 foiling catamarans are already being built at SailGP's new $10million technologies site in Southampton ahead of the first event of the 2026 season taking place in Perth, Australia.
Once the 13th and 14th teams have been added, SailGP plans to expand further to 16 teams, with a cap set at 20 teams. From next season, the starting field is expected to be split into two.
'I think it's really important that we retain a quality racing product,' Thompson added. 'We've developed 12 teams and it's a super-crowded racetrack right now.
'When we go to 14 teams, we will likely split. My view, and I think Russell's view, is that we need to get to 16 teams pretty quickly to have two groups of eight and then see how it develops from there.'