Sports, technology and entertainment leaders join forces to purchase United States SailGP Team
by US SailGP Team Nov 29 16:11 UTC
November 29, 2023
Team USA SailGP led by Jimmy Spithill on Day 2 of the Spanish Sail Grand Prix in Cadiz, Spain © Ricardo Pinto for SailGP
The United States SailGP team was purchased by tech investor and Uber founder engineer Ryan McKillen, Margaret McKillen and two-time world sailing champion Mike Buckley. They are joined by a diverse group of investors representing the sports, technology, entertainment and media industries.
The Avenue Sports Fund, led by Avenue Capital Group CEO Mark Lasry, is the lead investor in what will be the largest team acquisition in SailGP history. Other members of the investment group include actress and producer Issa Rae; world heavyweight champion boxer Deontay Wilder; global DJ and producer Gryffin; and NFL stars DeAndre Hopkins, Malik Jackson, Roquan Smith and Kyvon Thibodeau. Additional members include University of Alabama football star Dallas Turner; former American soccer player Jozy Altidore; University of Michigan basketball legend Caitlin Flaherty Yates; Assia Grazioli-Venier of Muse Capital; and serial entrepreneur Gary Vaynerchuk.
SailGP is the most exciting race on the water. The Global League features high-tech, high-speed 50-foot catamarans raced by the world’s best athletes on 10 national teams and broadcast in over 200+ markets (CBS and YouTube in the US). In SailGP’s fourth season, the fast-growing global sailing league delivers 13 live events throughout the year – six of which take place in North America, including New York, Los Angeles and Chicago – at the world’s most iconic coastal locations.
Under the new USA SailGP team structure, Ryan McKillen will serve as Chairman and Mike Buckley as CEO. The team appointed seven-time world champion sailor Taylor Canfield as the team’s pilot.
“By assembling this remarkable group to acquire the United States SailGP Team, we have reached an important milestone in the growth of our sport,” said Ryan McKillen, US SailGP Team co-owner and chairman. “As sailors, we love this sport and want to introduce it to millions; as entrepreneurs, we recognize the potential and growth trajectory of SailGP and how our US SailGP team can represent the future of water racing at the highest level. Our incredible ownership group is a testament to SailGP’s growth and expansion into the mainstream.”
“We believe diversity is a competitive advantage and it should start at the top,” said Mike Buckley, co-owner and CEO of the US SailGP Team. “We have assembled the most diverse group of owners in the history of our sport. Overall, we have a huge amount of work to do on and off the water, but I think I’ve shown that I’m not going to back down from this important challenge.”
Avenue Capital Group recently launched Avenue Sports Fund with the goal of providing capital solutions to a wide variety of sports teams, owners and leagues, as well as investing in sports-related media and entertainment rights, real estate and other related businesses. Team USA SailGP is the second major investment in a team by the Sports Fund.
“Avenue Sports Fund’s investment in the US SailGP team is a perfect fit for our strategy to support emerging sports and leagues to take advantage of the globalization of sports and related areas of potential rapid growth,” said Mark Lasry, chairman of Avenue Capital Group and CEO. “We are excited to join Ryan, Margaret, Mike and the broader group of investors as the USA SailGP team competes on an exciting global stage.”
US SailGP Team partners Red Bull, T-Mobile for Business and Zhik reaffirmed their commitment to the US SailGP Team, working with the team and league to cater to a growing fan base, innovate in technology, sport and lifestyle and to provide premium event experiences.
US SailGP Team debuts in Dubai, December 9-10
The USA SailGP Team (athletes to be announced) will compete in the Emirates Dubai Sail Grand Prix presented by P&O Marinas, December 9-10.
Dubai is the sixth stop on the SailGP Season 4 global calendar. The league returns to North America in the spring of 2024 with events each month, starting with the Bermuda Sail Grand Prix (May 4-5) and the ROCKWOOL Canada Sail Grand Prix in Halifax (June 1-2).
The first chance for the US SailGP Team to compete in front of their American fans will be in New York, June 22-23 at the Mubadala New York Sail Grand Prix; followed by the SailGP Season 4 Grand Final in San Francisco on July 13-14, 2024.
sailgp.com/teams/united-states
