SailGP has sold a minority stake to global entertainment, sports and content company Endeavor.
Endeavor, formerly known as William Morris Endeavor Entertainment, is a holding company for talent and media agencies and is headquartered in Beverly Hills, in the USA.
Endeavor’s investment position in SailGP values the global sports property at US$200 million after its first season.
The move continues the development of the SailGP race series as a broad, media focused event, with 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 (above left) 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.”
The SailGP website states that:
SailGP was created to engage and excite global sports fans year-round in a supercharged, fast-paced version of sailing aimed at increasing its mainstream popularity, introducing the next generation to the sport and creating a career path for extraordinary athletes.
SailGP Season 2 kicks off 29-29 February in Sydney with the Great Britain SailGP Team now helmed by Sir Ben Ainslie with an all new crew – yet to be announced.