Changes to the U.S. SailGP Team

A new ownership group has bought the United States SailGP Team and CEO and driver Jimmy Spithill (AUS) had been released.

Spithill announced his departure from the team in late November, suggesting the team’s sale. He did not disclose the sale specifics, but confirmed that the new ownership group would bring in their driver and CEO. This means Spithill, who has driven for the U.S. team since Season 2, will no longer race with the American team, including at next month’s Emirates Dubai Sail Grand Prix.

Notable changes include the additions of Taylor Canfield and Mike Buckley, founders of Stars + Stripes Team USA, who unsuccessfully sought to compete in the 2021 and 2024 America’s Cups. Below is the team’s announcement from Nov. 29:

“SailGP’s U.S team has been purchased by technology investor and founding Uber engineer Ryan McKillen, Margaret McKillen and two-time world champion sailor Mike Buckley. They are joined by a diverse group of investors representing the sports, technology, entertainment and media industries.

The Avenue Sports Fund, led by Avenue Capital Group CEO Marc Lasry, is the lead investor in what will be the most prominent team acquisition in SailGP history. Other members of the investment group include:

• Actress and producer Issa Rae.
• World champion heavyweight boxer Deontay Wilder.
• Global D.J. and producer Gryffin.
• NFL stars DeAndre Hopkins, Malik Jackson, Roquan Smith and Kayvon Thibodeaux.
• University of Alabama football star Dallas Turner.
• Former U.S. soccer player Jozy Altidore.
• University of Michigan basketball legend Katelynn Flaherty Yates.
• Muse Capital’s Assia Grazioli-Venier.
• Serial entrepreneur Gary Vaynerchuk.

SailGP is the most exciting racing on the water. The global league features high-tech, high-speed 50-foot foiling catamarans raced by the world’s best athletes in 10 national teams and broadcast in … 200+ markets (CBS and YouTube in the U.S.).

In SailGP’s fourth season, the quickly growing global sailing league (will) provide 13 live events year-round – six of which occur in North America, including New York, Los Angeles and Chicago – at the most iconic waterfront locations worldwide.

Under the new U.S. SailGP Team structure, McKillen will serve as chairman and Buckley as chief executive officer. The team has appointed seven-time world champion sailor Canfield as team driver.

‘By bringing together this remarkable group to acquire the United States SailGP Team, we have reached an important milestone in the growth of our sport,’ said McKillen, team co-owner and chairman. As sailors, we love this sport and want to introduce it to millions; as entrepreneurs, we recognize the potential and growth trajectory of SailGP and how our U.S. SailGP Team can introduce the future of on-water racing at the highest level. Our incredible ownership group is a testament to the growth and expansion of SailGP into the mainstream.’

‘We believe that diversity is a competitive advantage and it needs to start at the top,” said Buckley, team co-owner and CEO. “We have assembled the most diverse ownership group in the history of our sport. Collectively, we have an enormous amount of work to do on and off the water, but I think that I have shown I am not going to back down from this important challenge.’

Avenue Capital Group recently launched the Avenue Sports Fund to provide capital solutions to various sports teams, owners, and leagues and invest in sports-related media and entertainment rights, real estate and other adjacent businesses. The U.S. SailGP Team is the second central team investment by the Sports Fund.

‘The investment by the Avenue Sports Fund in the U.S. SailGP Team is a perfect fit for our strategy of supporting emerging sports and leagues to capitalize on the globalization of sports and related areas of potential rapid growth,’ said Lasry, the group’s chairman and CEO. We are thrilled to join Ryan, Margaret, Mike and the broader investor group as the U.S. SailGP Team competes on an exciting global stage.’

U.S. SailGP Team partners Red Bull, T-Mobile for Business and Zhik have reaffirmed their commitment to the U.S. SailGP Team, working with the team and league to cater to a growing fan base, innovate across tech, sport and lifestyle, and deliver premium event experiences.”

New U.S. SailGP Team debut in Dubai, Dec. 9-10

The U.S. SailGP Team will race at the Emirates Dubai Sail Grand Prix presented by P&O Marinas Dec. 9-10; athletes have yet to be announced. Dubai is the sixth stop on SailGP’s Season 4 global calendar. The league returns to North America in the spring; monthly events begin with the Bermuda Sail Grand Prix (May 4-5) and the ROCKWOOL Canada Sail Grand Prix in Halifax (June 1-2). The first opportunity for the U.S. SailGP Team to race in front of American fans will be in New York, June 22-23 at the Mubadala New York Sail Grand Prix, followed by the SailGP Season 4 Grand Final in San Francisco on July 13-14.