SailGP has announced that global entertainment, sport and content company Endeavor has acquired a minority stake in the sailing series.
Endeavor’s investment position in SailGP, which is about to embark on its second season in February 2019, values the global sports property at US$200 million after a successful first campaign.
Sir Russell Coutts, CEO, SailGP, 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.”
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 is transforming the way people view sailing,” said Mark Shapiro, President, Endeavor. "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.”
The second SailGP season will kick off on 28th February in Sydney. In the build-up to the second installment, the series has launched its first ever global marketing campaign.