Brazil will debut its first-ever SailGP team in the upcoming global sailing series, marking a historic moment as the first South American entry in SailGP. Backed by Abu Dhabi’s Mubadala sovereign wealth fund through Mubadala Capital, the team is a collaboration with Brazilian sports and entertainment firm IMM.
The team is set to compete in SailGP's fifth season starting in November, with details of the full team lineup expected to be announced soon. Alan Adler, owner of IMM and a former Brazilian Olympic sailor, will serve as the team's chief executive.
Mubadala Capital, part of Mubadala Investment Company overseeing investments worldwide totaling US$24 billion, has strengthened its commitment to Brazil with significant investments, including a recent US$710 million fund. The sovereign wealth fund already holds global series partnership rights with SailGP until 2026, including title partnership for the recent New York Sail Grand Prix.
In addition to its partnership in sailing, Mubadala-owned aerospace company Strata Manufacturing has joined forces with SailGP to develop and manufacture advanced boat components.
“We are excited to establish the inaugural South American SailGP Team in partnership with SailGP,” said Oscar Fahlgren, Chief Investment Officer of Mubadala Capital. “This venture not only expands our investment portfolio but also aligns with our long-term strategy of investing in Brazil while promoting positive social and environmental impacts.”
The Brazilian team represents the first of several new franchises and ownerships confirmed for SailGP's upcoming season.
“This marks a significant milestone for SailGP as we tap into a new and highly important market in Brazil,” commented Sir Russell Coutts, SailGP Chief Executive. “We look forward to building on Brazil’s enthusiastic fan base and enhancing our presence in the region.”
In related news, the US SailGP Team has unveiled a multi-year partnership with Tommy Hilfiger ahead of the new season, solidifying the fashion brand as the team’s official lifestyle apparel partner.
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