Alan Adler, CEO IMM , Sir Russell Coutts, SailGP CEO, Oscar Fahlgran, CIO Mubadala Capital, Brian Lott, Chief Communications Officer Mubadala Capital, announce the new Mubadala Brazil SailGP Team ahead of the Mubadala New York Sail Grand Prix in New York, USA. Friday 21st June 2024. Photo: Felix Diemer for SailGP. Handout image supplied by SailGP

SailGP, the global racing championship, has partnered with Mubadala Capital, the wholly-owned asset management subsidiary of Mubadala Investment Company, to acquire a newly formed SailGP Team to represent Brazil.

Brazil will be the first South American team to join the SailGP league and the first of new teams and new ownerships confirmed ahead of Season 5.

“Brazil has achieved an incredible history of success in Olympic sailing, and it’s fitting that they are now entering the professional ranks of SailGP – competing against the best in the world,” says SailGP CEO Russell Coutts. “This opens up a new and very significant market for SailGP, and we’re incredibly excited to further develop Brazil’s passionate fan base and strengthen our connection to the region.”

Oscar Fahlgren, chief investment officer of Mubadala Capital, adds: “We are thrilled to partner with SailGP to form the first-ever South American SailGP Team. This acquisition not only adds to our investment portfolio but also aligns with our long-term commitment to investing in Brazil, while enhancing our ability to create lasting positive social and environmental impact.”

The Mubadala Brazil SailGP Team will partner with Brazilian sports and entertainment firm IMM to operate the team. Owned by ex-Brazilian Olympic sailor Alan Adler (CEO), IMM’s portfolio includes Brazilian events such as the Rio Open, Cirque Du Soleil and São Paulo Fashion Week. Adler is also CEO of Brazil Motor Sports, the promoter of the São Paulo Grand Prix Formula 1 race.

The full team line-up will be revealed in the coming months.

New Zealand SailGP Team helmed by Peter Burling, Emirates Great Britain SailGP Team helmed by Ben Ainslie and the fleet sail toward the Centennial Wheel and the Chicago skyline on Race Day 1 of the Rolex United States Sail Grand Prix | Chicago at Navy Pier, Season 4, in Chicago, Illinois, USA. 16th June 2023. Photo: Ricardo Pinto for SailGP. Handout image supplied by SailGP

“We are eager to engage the passionate Brazilian fans and bring this dynamic team to life,” says Adler. “The Mubadala Brazil SailGP Team will inspire and connect with our community, promoting the sport and its values across South America.”

Brazil will join the start of the global racing championship at the beginning of Season 5, which commences in November 2024.

SailGP is a global championship with national teams racing on identical high-tech, high-speed 50-foot foiling catamarans at venues around the world. Now in its fourth Season, SailGP provides 13 events in a year-round calendar, with further expansion slated for Season 5.

The league has become known for several dramatic collisions and capsizes, including one last month, in which members of Team USA were sent flying out of their boat in a capsize during a practice day at the Apex Group Bermuda Sail Grand Prix.

In March, Tom Slingsby and his Australian crew were forced to retire from racing after a dramatic collision with a course mark in New Zealand.

Last year, Mubadala announced its Global Partnership with SailGP, a commitment that extends through the 2026 season.

SailGP and Mubadala’s partnership also extends off the water. Last month, both organisations announced a new production partnership with Strata Manufacturing, a Mubadala-owned aerospace facility, to develop and manufacture new SailGP hydrofoils and rudders to be introduced in Season 5, as well as other key elements of SailGP’s F50 catamarans.

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