The driver and CEO of the Australia SailGP Team has opened up about his failure to secure any major sponsorship deals and claimed the two-time defending champions could be “on the chopping block” in the future.

Speaking on Shirley Robertson’s Sailing Podcast, Tom Slingsby reflected on the league’s decision to drop Season 2 runner-up Japan from Season 3 after the team failed to receive any financial backing.

Looking back at the beginning of SailGP, Slingsby said: “The orders from Russell [Coutts, SailGP CEO] was that at the end of the first five years, you’ve got to be commercially sustainable — we had targets.”

However, SailGP has “progressed a lot quicker than we expected”, he said, resulting in a glut of perspective, commercially independent teams approaching the league. "SailGP can’t build boats fast enough,” he said.

“I know the rules, Nathan [Outteridge, former Japan driver] knew the rules - we all do,” he said. “We’re all under pressure […] Nathan unfortunately was the first one to succumb to that pressure.”

Australia SailGP Team celebrate in Chicago in the summer of 2022 | Credit: SailGP

Slingsby opened up about his own struggles to secure financial backing for the Australian team, describing it as a “tough” task.

On the water, the Australia SailGP Team is dominating Season 3, sitting top of the overall championship leaderboard with 60 points and securing five podium finishes so far.

But in-between SailGP events, Slingsby’s “full-time role” is to secure sponsorship. “I can’t tell you how many thousands of hours I’ve spent trying to get sponsorship and I haven’t been able to do it yet,” he said, adding that his efforts have resulted in “some small sponsors” but “nothing major”.

“It’s extra frustrating because we’re getting such good results on the water and you wonder who wouldn’t want to be associated with the team that’s never had any scandals, never had any bad press — we go out there, we represent our country with honour, we’re good people, we’ve got great personalities on the team — why can’t we get sponsors?”

Despite the team’s on-water success, the Australia SailGP Team is not immune from being cut from the league, Slingsby said.

Australia SailGP Team racing close with the Great Britain entry | Credit: SailGP

He added that the team has been “saved” for “the time being” by the New South Wales government signing on as the official host venue partner of the Australia Sail Grand Prix in a three-season deal.

“Fortunately for us, Russell [Coutts] is viewing the Australian event and team as one, and the money that comes in as total, not separate,” Slingsby said.

Despite having the “luxury” of the three-season agreement, Slingsby said he by no means thinks he’s safe.

“We need to get some owners to buy the team or bring in some serious sponsorship dollars or 100% we’re on the chopping block,” he said.

However, he is optimistic about the future of the team: “We’ve got a lot of talks going on and a lot of great discussions with some companies — we just need some to drop and the future of the Australia SailGP Team will be sealed.”

Australia and the rest of the SailGP fleet are arriving in Singapore ahead of the eighth stage of Season 3 this weekend.

Tom Slingsby has signed with New York Yacht Club American Magic for the 37th America’s Cup in 2024.

Slingsby, a 2012 Olympic gold medalist and multi-class world champion, previously helped an American team win the 'Auld Mug' in 2013.

“I’m extremely excited to return to the America’s Cup arena,” says Slingsby, 37. “The AC75s are remarkable craft, and I look forward to doing whatever I can to help our team in their quest to bring the trophy back to the United States and the New York Yacht Club. We’ve got world-class talent on board the boat and backing us on the shore, I’m proud and excited to be a part of it.”

New York Yacht Club American Magic was formed in 2018 by principals Hap Fauth, Roger Penske, and Doug DeVos. The team competed in the 36th America’s Cup in Auckland, New Zealand.

The Australia SailGP Team helmed by Tom Slingsby, during the Australia Sail Grand Prix in December 2021. Photo courtesy of Phil Hillyard for SailGP

Tom Slingsby was a latecomer to competitive sailing, after being inspired while watching the 2000 Olympic Regatta on Sydney Harbour. But he went on to win multiple world championships and an Olympic gold medal at the 2012 Olympics in London. In the last decade, he’s won major championships in everything from 100-foot supermaxis to singlehanded foiling Moths. He was named 2021 Rolex World Sailor of the Year. He sailed with Oracle Team USA in the 2013 and 2017 America’s Cup matches and won the first two seasons of SailGP as the driver of the Australian Team. Slingsby will continue with his role on the Australia SailGP Team.

“People are the most valuable resource for any America’s Cup challenge, and we’re excited to have Tom on our team,” says Terry Hutchinson, skipper and president of sailing operations for NYYC American Magic. “As a previous winner of the America’s Cup, Tom knows what it takes to climb that mountain. He has shown incredible ability in foiling yachts, and his skill and experience will be a tremendous asset for American Magic going forward.”

“Having Tom and Paul Goodison, both Olympic Gold Medalists and world champions, driving our AC75 gives us a great competitive position,” says Hap Fauth. “They are fierce competitors who win at the highest level of sailing. Combine this with the world-class team we are building, and I am thrilled with our prospects.”

Slingsby will look to join the team later this summer in Pensacola, Florida, where American Magic has set up its training base in the build-up to AC37, which will take place in Barcelona, Spain in September and October 2024

ISAF announced the male and female winners of the 2010 ISAF Rolex World Sailor of the Year Awards are:
Blanca Manchon (ESP) and Tom Slingsby (AUS).
Blanca Manchon was nominated for the third time this year and had her family and friends with her at the Awards ceremony here in Athens. "This is really fantastic," said a radiant Manchon on stage as she accepted her trophy and her Rolex timepiece. "As this is my third nomination for the ISAF Rolex World Sailor of the Year Award we were all hoping this would be it... and here I am! I cannot believe it. I worked very hard to get here but I'm young - only 23 years old - so I hope I continue to do many things and maybe I will see you again here someday."
Tom Slingsby could not make it to Athens for the ceremony due to electrical storms over Sydney that grounded international flights. Slingsby was surprised when his phone call to "discuss laser sailing", turned into a live announcement from HRH Prince Frederik of Denmark, announcing that he had won the 2010 ISAF Rolex World Sailor of the Year Award. "Wow, thank you!" said Slingsby. "I just remember sitting on the rocks in Sydney harbour watching the Olympics. I remember seeing people like Ben Ainslie and Robert Scheidt, two former winners of the ISAF Rolex World Sailor of the Year Awards, and thinking, "I want that, that's really what I want to do." To be considered among them today is really an incredibly big honour."
The ISAF Rolex World Sailor of the Year Award is the highest award a sailor can receive in recognition of his/her outstanding achievements. The Awards are presented annually based on a worldwide selection process that incorporates an open invitation to nominations, followed by a vote amongst the 130 member nations of the International Sailing Federation (ISAF).
The Awards have been held every year since 1994 and past winners include Peter Blake (NZL), Ellen MacArthur (GBR), Robert Scheidt (BRA) and Russell Coutts (SUI). In 2009 the Awards were presented to Torben Grael (BRA) and Anna Tunnicliffe (USA).
www.sailing.org/worldsailor