The SailGP championship has confirmed the sale of the ROCKWOOL Racing SailGP Team to American sports investor Doug DeVos. The US $60 million acquisition sees DeVos, co-founder of American Magic, take ownership of the Danish team.
SailGP Chief Executive and co-founder Sir Russell Coutts said the move marked “a significant moment for SailGP – and the start of a bold new era for ROCKWOOL Racing”. “American Magic is a world-class operator, equipped to compete at the very highest levels of our sport,” he said. “This new team ownership has the foundations for sustained performance, innovation, and growth for many years to come.”
DeVos is part of the family ownership group of the Orlando Magic. The deal reflects growing investor interest in SailGP, with teams attracting private equity and venture capital backing.
American Magic was supported in the transaction by Miller Johnson and IKON Capital, which joined as a co-investor. DeVos said the partnership brought together “three organisations committed to high performance”. “SailGP has reshaped the sport through global competition, innovation, and fan engagement,” he said. “Together, we see a clear opportunity to build a winning team and inspire the next generation of sailors, designers, and boat builders.”
American Magic will own and operate the team. ROCKWOOL remains the title partner until 2032 under an agreement announced last year. The Danish entry will continue to compete under its national flag and must field at least three Danish athletes when fully crewed, in line with SailGP rules.
ROCKWOOL Racing holds the championship speed record of 103.93km/h, set at the Germany Sail Grand Prix in Sassnitz during the 2025 season. The team finished seventh overall last year but secured a breakthrough win in Abu Dhabi.
Mirella Vitale, Executive Vice President at ROCKWOOL Group, said the deal secures “a Danish entry on the SailGP start line for the long term”. “We truly believe that Doug and American Magic are the perfect partners to take it to the next level,” she said. The team, led by Danish driver Nicolai Sehested, will integrate into American Magic’s performance structure.
Earlier this year, SailGP opened a training base at the American Magic Performance and Innovation Centre in Pensacola, Florida.
Mike Cazer, Chief Executive of American Magic, described the acquisition as “a strategic investment in a fast-growing sport”. “We look forward to building the team’s high-performance platform and helping it compete at the front of the fleet,” he said.
The Rolex SailGP Championship resumes this weekend with the ITM New Zealand Sail Grand Prix | Auckland on 14–15 February.
