Thursday 18 July 2024
 
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Mubadala Capital, SailGP acquire first South American team

ABU DHABI, 25 days ago

Mubadala Capital, a wholly owned asset management subsidiary of Mubadala Investment Company, and SailGP, the global racing championship, have announced a strategic investment to acquire a newly formed SailGP Team to represent Brazil.

This will be the first South American squad to join the SailGP league and the first of new teams confirmed ahead of Season 5.

The acquisition is the latest in the series of partnerships between Mubadala and Sail GP, who share strong sustainability and innovation goals. It paves the way for enhanced training and development opportunities for Emirati sailing talent, both within the UAE and internationally, building on the success of the inaugural Abu Dhabi race earlier this year. The Brazil Team will be part of the next SailGP event in the UAE and gives fans in the region a thrilling opportunity to witness world-class sailing up close.

 

The addition of a South American team is a powerful boost for the tournament and an important step in the Emirate becoming a global sports and entertainment hub. This race brings an international sport to the region and demonstrates Mubadala’s and the UAE’s commitment to sustainability on the global stage.

 

Mubadala’s Homaid Al Shimmari, Deputy Group CEO and Chief Corporate & Human Capital Officer 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 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. Founded by ex-Brazilian Olympic sailor, Alan Adler (CEO), IMM’s portfolio includes some of Brazil’s most iconic events, including the Rio Open and 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 began its partnership with SailGP as the title sponsor for the San Francisco race in Season 3, in line with its responsible investing approach and SailGP’s ambition to be the world’s most sustainable, purpose-driven global sports and entertainment platform. The partnership extended further with the launch of the Abu Dhabi race. Today, it 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 emphasises 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 engaged more than 21,000 young people in host venues around the world.  -- TradeArabia News Service




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