SailGP sells minority stake to Endeavor
by SailGP 6 Feb 2020 15:46 GMT
28-29 February 2020
2019 SailGP Marseille Grand Final © Lloyd Images for SailGP
On the verge of embarking on its second season of operation, SailGP has sold a minority stake to global entertainment, sports and content company Endeavor.
Endeavor's investment position in SailGP values the global sports property at US$200 million after its highly successful first season.
As part of the investment, SailGP will benefit from access to the Endeavor network's expertise across content production, media rights distribution, creative services, licensing, sponsorships and consumer marketing.
SailGP CEO Sir Russell Coutts said: "Endeavor's partnership with SailGP represents a pivotal moment in our young and developing history. It strengthens our position going into our second season and signals the projected long-term value of SailGP. This is the start of a new era in our sport, and we couldn't have a better partner than Endeavor."
Endeavor President Mark Shapiro said: "SailGP is transforming the way people view sailing. For the first time, the sport is being packaged in a broadly appealing, consumable, consistent and exciting format, bringing it in line with some of the world's top sporting events. If the first season is any indication, SailGP has incredible potential and strong value for its partners, and we look forward to helping forge the future of the league."
SailGP Season 2 kicks off February 28-29 in Sydney.