SailGP signs with Rolex to become the first title partner of a global sailing event
Courtesy: SailGP
The self-proclaimed Formula 1 yacht racing event has signed Rolex as its first title partner for elite sailing racing.
SailGP, now renamed the Rolex SailGP Championship, kicks off the 2025 season in Dubai on Saturday.
“Entering its fifth season, SailGP is celebrating a period of significant growth,” said Russell Coutts, league chief executive. “This will accelerate the next phase of our growth and establish our position as sailing’s premier global championship.”
The Swiss luxury watchmaker first partnered with the sport during the inaugural regatta in 2019. The championship partnership will last ten years until 2034. Rolex will also continue to be the official timekeeper of SailGP.
SailGP is a global championship in which more than a dozen national teams from the United States, Italy, Germany and other countries compete on identical high-tech, high-speed 50-foot foiling catamarans.
Boats race at speeds approaching 60 miles per hour for a $7 million grand prize.
SailGP signs with Rolex to become the first title partner of a global sailing event
Courtesy: SailGP
SailGP was established using a central ownership business model with the aim of transitioning to a private ownership model within the first five years. The league told CNBC that 10 of the 12 teams will be privately owned in the upcoming season, and future teams will be independently owned and funded.
Last year, a number of Wall Street titans backed the movement, including Alliance co-founders and Oracle Chairman Larry Ellison and Avenue Capital Group Chairman Mark Lasry.
2023, an investor group Avenue Sports Fund, led by Lasry, acquired Team USA for $35 million.
As interest grows, Many teams have also attracted major sponsors, including brands such as Red Bull, Emirates, Mubadala, Rockwool and Deutsche Bank.
“What you’ve seen over the past three years is that sailing has dwarfed other leagues,” Lasry told CNBC. “Gaga Box” in May.
SailGP attracted the largest US television audience during last season’s Spanish Grand Prix, with 1.78 million viewers on CBS.
According to the league report, the broadcast of the 13 games in the fourth quarter covered 212 regions around the world, with ratings increasing by 48% year-on-year and an average audience of approximately 200 million.
SailGP Season 5 will expand its linear audience with new broadcast deals in Germany, Italy, Brazil and Spain.
“As a traditional sport in many markets, sailing has historically had affluent participants and spectators,” Coutts said. “We are engaging a new generation of racing fans, which is already demonstrated through our digital content and social engagement data, in addition to our fan base in markets where new teams are based, such as Italy and Brazil.”
