UAE – Mubasher: Mubadala Capital and global sailing championship SailGP have announced a strategic investment deal to acquire a newly formed SailGP team representing Brazil.

It will be the first South American team in SailGP and kick off in November 2024 for the fifth season of the competition, according to a press release.

The Mubadala Brazil SailGP Team will partner with Brazilian sports firm IMM, led by Olympic sailor Alan Adler, to operate the team.

The deal builds on Mubadala's title partnership with SailGP events in New York, San Francisco, and Abu Dhabi.

Oscar Fahlgren, Chief Investment Officer of Mubadala Capita, commented: "This acquisition not only adds to our investment portfolio but also aligns with our long-term commitment to investing in Brazil, while enhancing our ability to create lasting positive social and environmental impact."

Brian Lott, Chief Communications Officer at Mubadala, stated: “Together with SailGP, we are building a community dedicated to creating a better sport and a better planet. There is strong alignment between our responsible investing approach and SailGP’s ambition to be the world’s most sustainable, purpose-driven global sports and entertainment platform.”

Sir Russell Coutts, CEO of SailGP, said: “Brazil has achieved an incredible history of success in Olympic sailing, and it’s fitting they are now entering the professional ranks of SailGP – competing against the best in the world.”

In February 2024, Mubadala Capital inked a memorandum of understanding (MoU) with South Korea’s Woori Venture Partners to establish a strategic partnership.