In a landmark move, Canadian biotech entrepreneur Greg Bailey has acquired the Canadian SailGP Team, ensuring its continued presence in the prestigious global sailing league. The deal solidifies Canada’s participation in the 2024-2025 SailGP season, which kicks off next month in Dubai.
The team will be led by double Olympic gold medalist Giles Scott, who has been signed as the new driver. Additionally, SailGP has announced the return of a Canadian-hosted event in the 2026 season, further cementing Canada’s growing role in the competition.
SailGP’s managing director, Andrew Thompson, expressed excitement about the acquisition, stating, “Canada is one of SailGP’s fastest-growing emerging markets. With a confirmed Canadian team and a future home event in 2026, today’s announcement marks another milestone in the league’s expansion.”
Bailey, co-founder of biotech firm Juvenescence and chairman of Max Insurance, ventures into the sports world for the first time with this acquisition. He emphasised the significance of keeping Canada in the competition, saying, “It was important to me that Canada remained represented in SailGP’s nation vs nation format, which provides a level playing field.”
Bailey will be joined by Phil Kennard, former UK 49er Class sailing champion and a seasoned executive with experience in motorsports and golf, as team principal and chief executive.
The Canadian team is the second new ownership group confirmed ahead of the 2024-2025 season, which starts on November 23. SailGP’s U.S. team was similarly acquired last year by a consortium of investors from the sports, technology, and media sectors.
With the largest fleet in SailGP history, 11 national teams will take the start line in Dubai, and further team announcements are expected in the coming weeks.