Mubadala Capital Announces Strategic Acquisition of SailGP Team Brazil
Abu Dhabi – In a groundbreaking development for the world of competitive sailing, Mubadala Capital, a subsidiary of the Mubadala Investment Company, has declared a strategic investment to acquire a newly formed SailGP Team representing Brazil. This announcement marks the first inclusion of a South American team in the prestigious SailGP league, and it sets a new precedent for Season 5.
Mubadala Capital, in its official statement, emphasized the significance of this acquisition as it propels the competition into uncharted territories. This development also fortifies the burgeoning relationship between Mubadala and SailGP, with aims to offer enhanced training and development opportunities for Emirati sailing talent both within the UAE and on an international scale, building on the successful inaugural Abu Dhabi race earlier this year.
The newly acquired Brazil Team is poised to make its debut at the UAE’s next SailGP event. Mubadala Capital remarked, “The addition of a South American team is a powerful boost for the tournament and an important step in the Emirate becoming a global sports and entertainment hub.”
Homaid Al Shimmari, Deputy Group CEO and Chief Corporate and Human Capital Officer for Mubadala, articulated the alignment of their responsible investing approach with SailGP’s ambition of becoming the world’s most sustainable, purpose-driven global sports and entertainment platform. “This partnership reflects our commitment to supporting the communities and regions where we invest, aligning our capital deployment with local community engagement,” he said.
In collaboration with Brazilian sports and entertainment firm IMM, the Mubadala Brazil SailGP Team is set to flourish. IMM, founded by former Brazilian Olympic sailor Alan Adler who serves as CEO, boasts a portfolio that includes Brazil’s iconic events such as the Rio Open and the São Paulo Grand Prix Formula 1 race.
SailGP CEO Sir Russell Coutts also shared his insights on this milestone. “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 develop Brazil’s passionate fan base further and strengthen our connection to the region,” Coutts remarked.
The Brazilian team’s entry coincides with the beginning of SailGP’s fifth season, slated to commence in November 2024. Oscar Fahlgren, Chief Investment Officer of Mubadala Capital, expressed his enthusiasm: “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 forthcoming months will see the unveiling of the team lineup. Olympic sailor Alan Adler shared his optimism: “We are eager to engage the passionate Brazilian fans and bring this dynamic team to life. The Mubadala Brazil SailGP Team will inspire and connect with our community, promoting the sport and its values across South America.”
SailGP: A Synopsis
SailGP is a global championship where national teams compete in identical, cutting-edge 50-foot foiling catamarans at iconic venues worldwide. The league, now in its fourth season, hosts 13 events annually, with expansion plans for Season 5 already in motion.
The formation of the Brazilian team heralds a further strengthening of SailGP’s relationship with Mubadala, initially announced last year. Mubadala will also serve as the Title Partner for SailGP’s New York event this weekend, having sponsored previous events in San Francisco and Abu Dhabi.
In a recent collaboration, SailGP and Mubadala announced a production partnership with Strata Manufacturing, a Mubadala-owned aerospace facility. This partnership aims to develop and manufacture new SailGP hydrofoils and rudders to be introduced in Season 5, further exemplifying both organizations’ commitment to innovation and excellence in sailing technology.
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