American Magic will operate the Danish franchise under a long-term ROCKWOOL partnership, underscoring rising team valuations and SailGP’s shift toward privately backed ownership.
A new chapter has opened in the franchise evolution of SailGP after leading US sports investor Doug DeVos agreed to acquire the ROCKWOOL Racing team for more than $60m.
The Danish outfit, which competes as the Denmark SailGP Team, has been purchased from the league by DeVos, co-founder of American Magic and a member of the family which owns the NBA’s Orlando Magic. American Magic will own and operate the team going forward, while ROCKWOOL remains title partner under a long-term agreement running until 2032.
Founded by Larry Ellison and CEO Russell Coutts, SailGP initially retained ownership of its teams as it established the league’s commercial and broadcast footprint. In recent seasons, however, it has sought to attract external capital into individual franchises, mirroring structures more commonly associated with Formula 1 or US closed leagues.
Coutts described the sale as “a significant moment for SailGP, and the start of a bold new era for ROCKWOOL Racing”, adding that American Magic are “world-class operators, equipped to compete at the very highest levels of our sport”.
The more than $60m valuation underlines growing investor confidence in franchise’s commercial proposition, built around centralised boat ownership, cost control and expanding global event hosting.
Strategic alignment with American Magic
DeVos is one of the most prominent private backers in modern professional sailing. His Quantum Racing programme secured four 52 Super Series titles before he led American Magic as the New York Yacht Club’s challenger in the 2021 and 2024 America’s Cup cycles.
Under the new structure, the Danish team will integrate into American Magic’s broader performance ecosystem, including access to its Performance and Innovation Center in Florida. The facility is expected to play a role in athlete development, data analysis and technical refinement as teams search for marginal gains in the one-design F50 class.
DeVos said the partnership “brings together three organizations committed to high performance”, adding that SailGP has “reshaped the sport through global competition, innovation and fan engagement”.
ROCKWOOL remains central
Crucially, the team’s Danish identity remains intact. Under SailGP nationality regulations, crews must include athletes from the nation they represent, and the team will continue to field a minimum of three Danish sailors when fully crewed.
ROCKWOOL, the global stone wool manufacturer, will stay on as title partner until 2032 following a previously announced extension. That agreement makes the brand one of the longest-standing commercial partners in SailGP and ensures continuity of identity despite the ownership change.
Mirella Vitale, Executive Vice President of Marketing, Communication and Public Affairs at ROCKWOOL Group, said the new structure guarantees “a Danish entry on the SailGP start line for the long-term” and expressed confidence that American Magic can accelerate the team’s ambition of winning the Rolex SailGP Championship.
On the water, the Danish team enters this new era with momentum but unfinished business.
Led by driver Nicolai Sehested, ROCKWOOL Racing holds the SailGP speed record of 103.93 km/h, set at the Germany Sail Grand Prix in Sassnitz during the 2025 season. Despite finishing seventh overall that year, the team closed its campaign with a breakthrough Grand Prix victory in Abu Dhabi, offering a glimpse of its performance ceiling.
