Abu Dhabi’s Mubadala Capital, SailGP, acquires SailGP team in Brazil
Brazil Team will participate in the UAE's next SailGP event
Abu Dhabi: Mubadala Capital, a subsidiary of Mubadala Investment Company and catamaran racing championship SailGP, announced Friday a strategic investment to acquire a newly formed SailGP Team to represent Brazil.
Mubadala Capital said in a statement that this will be the first South American squad to join the SailGP league and the first of the new teams confirmed ahead of Season 5.
The acquisition is the latest in the series of partnerships between Mubadala and Sail GP. The partnership also 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 participate in the UAE's next SailGP event. “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,” Mubadala Capital said.
Mubadala’s Homaid Al Shimmari, Deputy Group CEO and Chief Corporate and Human Capital Officer, said, “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.”
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.
Meanwhile, 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 develop Brazil’s passionate fan base further and strengthen our connection to the region.”
Brazil will join the start of the global racing championship at the beginning of Season 5, which commences in November 2024.
“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 entire team line-up will be revealed in the coming months. Olympic sailor Adler said, “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.”
What is SailGP?
SailGP is a global championship with national teams battling it in identical high-tech, high-speed 50-foot foiling catamarans at iconic venues worldwide.
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 a new chapter in SailGP’s expanding relationship with Mubadala, which was announced last year.
Mubadala will serve as the Title Partner for SailGP’s New York event this weekend. It has previously sponsored events in San Francisco and Abu Dhabi.
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.