The Danish ROCKWOOL Racing SailGP Team has been acquired by leading sports investor and American Magic Co-Founder, Doug DeVos.
American Magic will own and operate the team, with ROCKWOOL continuing as Title Partner until 2032.
The team will continue to represent Denmark and will feature a minimum of three Danish athletes when fully crewed, in line with SailGP nationality rules.
Led by DeVos, part of the family ownership group of the NBA’s Orlando Magic, the US $60 million transaction underscores the growing value of SailGP teams. American Magic was supported on this acquisition by Miller Johnson and IKON Capital, the sports-focused investment and advisory platform, which also joins as a co-investor in the team.
The ROCKWOOL Group will remain central to the team’s identity and long-term vision, supporting performance, innovation, and global brand growth within the championship.
The team – led by Danish driver Nicolai Sehested – will transition into American Magic’s broader performance eco-system, with a focus on elite performance and talent development.
ROCKWOOL Racing joined the SailGP circuit in Season 2, and had their best finish, of fourth on Season 4 (2024). After the first event of the 2026 season in Perth, Australia, ROCKWOOL Racing are placed eighth.
Earlier this year, SailGP launched its first long-term training base at the state-of-the-art American Magic Performance and Innovation Center in Pensacola, Florida, as part of the wider agreement between the two organizations.
American Magic was established in 2017 to challenge for the America’s Cup, the team has expanded to integrate U.S. Olympic pathways and SailGP, and to further develop Women’s and Youth programs.
The Rolex SailGP Championship returns this weekend, with the 2026 ITM New Zealand Sail Grand Prix in Auckland over the 14 and 15 February.
