Sir Ben Ainslie has secured further investment in his Great Britain SailGP Team.
Misland Capital, a London based Private Fund, will join Ainslie and Chris Bake as owners of the SailGP Great British Team . . . giving a valuation of US$40m for the Great Britain SailGP Team.
The share split sees Ainslie hold the majority with Bake and Misland Capital holding equal secondary shares.
It is just one year since Ainslie and Bake secured the option to become the first franchise team in the SailGP League Series.
Ainslie, who is also heading-up Britain’s INEOS Britannia America’s Cup challenge in 2024, is the only athlete in the SailGP league to hold ownership out of the nine competing teams.
Ainslie said: “It’s fantastic Misland Capital has opted to join the team.”
“With Season 3 seeing unprecedented growth in the form of an expanded global calendar, increased teams, new owners, commercial partners and history breaking viewing figures”
A spokesperson from Misland Capital said: “Both the Great Britain team and SailGP have been doing brilliant work to grow the sport, take action against climate change and focus on bringing gender equity to the sport by providing training pathways for success. We are truly excited to join the Great Britain SailGP Team.”
The SailGP League is now in its third season and after the Christmas break will return to action for the Singapore Sail Grand Prix on the 14/15 January 2023, followed by events in Sydney and Christchurch before the $1m Grand Final in San Francisco in May.
The SailGP race organisation recently announced the formation of a new SailGP fan-owned racing team across Bermuda and the Caribbean.
The new Caribbean & Bermudian team hopes to be the tenth team in the league and to participate in Season 4, scheduled to open on 17-18 June 2023 with the Chicago Sail Grand Prix at Navy Pier, and includes one event to be held in Bermuda in May 2024.