Sailing-American Magic take over Danish SailGP team in $60 million deal

​American Magic, the sailing team backed by U.S. sports investor Doug DeVos, has bought Danish SailGP speed record holders ROCKWOOL Racing in ‌a $60 million deal launched on the eve of the global league's New Zealand event.

"It's a great team, great sailors," DeVos told a briefing marking the 11th sale of a team in SailGP, which was ‌set up by Larry Ellison and America's Cup veteran Russell Coutts. "We want to win on the ‌water, we want to win off the water," said DeVos.

SailGP launched last month its first long-term training base at the Pensacola, Florida performance and innovation centre run by American Magic. The U.S. outfit was a challenger for the America's ⁠Cup in ​Barcelona in 2024, but ⁠has decided not to take part in the 38th edition of the event in Naples next year. American Magic will ⁠own and operate the team, which will continue to represent Denmark and have a minimum of three Danish athletes ​when fully-crewed, in line with SailGP nationality rules. ROCKWOOL has signed up as its title ⁠partner until 2032.

"SailGP launched with a centrally-owned model for our teams. We had a clear plan to transition to private ⁠team ​ownership over our first five seasons and we've made really strong progress," SailGP Managing Director Andrew Thompson said of the move. American Magic, who finished last season seventh overall and ended with ⁠a breakthrough win in Abu Dhabi, will continue to be led by Danish helmsman Nicolai Sehested.

Denmark's ⁠championship speed record could ⁠be tested this weekend in Auckland given the forecast for the New Zealand Sail Grand Prix, according to SailGP's chief meteorologist Chris Bedford. "It's definitely possible ‌we could ‌see a speed record," Bedford said.