Mubadala Capital, and SailGP, the global racing championship, announced a strategic investment 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.
Celebrating the announcement, SailGP CEO Sir Russell Coutts said, “Brazil has achieved an incredible history of success in Olympic sailing and it’s fitting they are now entering the professional ranks of SailGP – competing against the best in the world. 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.”
The Mubadala Brazil SailGP Team will partner with Brazilian sports and entertainment firm IMM to operate the team.
Mubadala’s Chief Communications Officer, Brian Lott said: “Together with SailGP, we are building a community dedicated to creating a better sport and a better planet. There is strong alignment between our responsible investing approach and SailGP’s ambition to be the world’s most sustainable, purpose-driven global sports and entertainment platform.”