How SailGP Has Become the Hottest Show on the Seas

It’s opening day of the ITM New Zealand Sail Grand Prix in Auckland. More than 10,000 ticketed fans line the shoreline’s stadium bleachers as 13 high-tech 50-foot foiling catamarans careen into the race’s first turn at 55 mph. This is Formula 1 on water—full speed with elbows out, crashes included. Suddenly, the home-country athletes aboard the Black Foils boat lose steering and veer sharply into the path of the French DS Automobiles team. For many fans, the collision is a dramatic introduction to SailGP—the hottest show at sea.

“It’s exciting, fun, fast, and dynamic,” says Doug DeVos, the league’s newest owner. In February, the investor and his American Magic sailing-management group bought the Danish Rockwool Racing team for $60 million. As part of the family that owns the N.B.A.’s Orlando Magic, a supporter of recent America’s Cup campaigns, and a champion sailor himself, DeVos believes SailGP has finally cracked the professional-league model—something one of the world’s oldest sports has never done before. “To see what SailGP has been able to accomplish, to repeat it, and now become part of the established sporting world is really encouraging,” he says.

DeVos joins an eclectic mix of owners, including high-roller consortia, venture capitalists, entertainers, and celebrities. Among them: Hugh Jackman and Ryan Reynolds, new co-owners of the Australian team Bonds Flying Roos. The U.S. SailGP Team has deep pockets and star power, too, with actress Issa Rae, soccer standout Jozy Altidore, and tech entrepreneur Ryan McKillen counted as backers. The league’s blossoming portfolio of commercial partners adds further momentum. National teams have sponsors ranging from Deutsche Bank to Red Bull, while Rolex is the founding title partner, alongside Mubadala, DP World, Emirates, and, crucially, Oracle.

Oracle cofounder and executive chairman Larry Ellison—himself a former sailing champion—launched SailGP in 2018 with Russell Coutts, now the league’s de facto commissioner. Few expected the venture to outlast Ellison’s willingness to bankroll it. Yet now, in its sixth season, 11 of the 13 teams are privately owned, with valuations rising from an initial $5 million to the eight-figure price DeVos reportedly paid.

The 13-race series continues to expand, with events in Europe, the Middle East, the southern hemisphere, and, in late May, New York Harbor. Also adding serious credibility are the season’s $12.8 million prize purse as well as the growing broadcast footprint across CBS and Paramount Global networks. “The Race to Abu Dhabi” at the end of the fifth season drew more than 3 million viewers—what SailGP calls the most-watched sailing race in history.

The league’s identical F50 catamarans bristle with carbon fiber and technology, each wired to the Oracle Cloud. Dozens of onboard cameras capture the action during tight high-speed duels, while sensors stream more than 35,000 data points per second to onshore coaches. Some of those metrics are available to fans worldwide.

“It’s got national teams, it’s done well, and there are events every couple of weeks,” says Gary Jobson, longtime sailing commentator for ESPN and NBC. Once a skeptic, Jobson is now a believer. “There’s a season, which gives people something to follow. They’re exciting races, and they’re short,” he notes. “But the best thing about it is we get to see sailing on television, which is rare these days.”

The traveling series is certainly a spectacle. For DeVos, ownership will come with a learning curve, especially with his team currently mired in the middle of the pack. “That’s kind of purgatory,” he says. “You’re just stuck.” Still, he’s prepared to draw from his N.B.A. experience, likening the rhythm to an 82-game basketball season. “If you have a bad regatta, you have a chance to get back on your horse again pretty soon,” he says. “It keeps everyone fresh and engaged.”