SailGP, the premier global sailing championship, has announced a significant partnership with Swiss luxury watchmaker Rolex, marking the brand as its first title partner.
This collaboration will see the competition rebranded as the “Rolex SailGP Championship,” coinciding with the commencement of its fifth season in Dubai. The partnership is set to last for a decade, extending through 2034, and is expected to bolster SailGP's growth trajectory, as highlighted by league CEO Russell Coutts.
Since its inception in 2019, SailGP has experienced remarkable growth, transitioning from a centrally owned business model to a privately owned structure. As the upcoming season approaches, 10 out of 12 teams will be privately owned, with plans for future teams to be independently financed. This shift has attracted significant investment from high-profile figures, including Oracle Chairman Larry Ellison and Avenue Capital Group Chairman Marc Lasry, who recently led a $35 million acquisition of the U.S. team. The influx of capital and interest from major sponsors, such as Red Bull and Deutsche Bank, reflects the increasing commercial viability of the sport.
SailGP has seen a surge in viewership, with the previous season drawing its largest American television audience during the Spain Sail Grand Prix, attracting 1.78 million viewers on CBS. The league's broadcasts reach 212 territories worldwide, and viewership has increased by 48% year-over-year, averaging around 200 million viewers across its 13 race events. This growth is indicative of sailing's rising popularity, particularly among younger demographics, as the league engages a new generation of racing fans through innovative digital content and social media strategies.
The upcoming season will also feature new broadcast agreements in key markets, including Germany, Italy, Brazil, and Spain, aimed at expanding its linear audience. As a heritage sport, sailing has traditionally attracted affluent participants and spectators, but the league's efforts to modernize its appeal are paying off. Coutts emphasized the importance of engaging younger fans, particularly in markets where new teams are being introduced, such as Italy and Brazil. This strategic focus on audience expansion is crucial for the league's long-term sustainability and growth.
SailGP features a dozen national teams, including representatives from the U.S., Italy, and Germany, competing in identical high-tech, high-speed 50-foot foiling catamarans. These boats are capable of reaching speeds close to 60 miles per hour, adding an exhilarating element to the competition. The championship offers a substantial grand prize of $7 million, further incentivizing teams to perform at their best. The competitive nature of the league, combined with its high-stakes environment, positions SailGP as a unique player in the global sports landscape.
The league's innovative approach to team ownership and financing has attracted attention from various sectors, including traditional finance. The involvement of Wall Street titans and major sponsors indicates a growing recognition of sailing as a viable investment opportunity. As the sport continues to evolve, it is likely to draw in more investors and sponsors, enhancing its financial stability and competitive edge.
SailGP's partnership with Rolex not only elevates the brand's prestige but also aligns with the luxury watchmaker's long-standing association with high-performance sports. This collaboration is expected to enhance the league's visibility and attract a broader audience, further solidifying its position in the global sports arena. As the championship prepares for its fifth season, the combination of elite competition, significant investment, and strategic partnerships sets the stage for an exciting future in the world of sailing.