American 'Magic', the sailing team owned by U.S. sports investor Doug?DeVos and based in New Zealand, bought Danish SailGP record-holders ROCKWOOL racing for $60 million. The deal was announced on the eve before the New Zealand event of the global league.

DeVos said at a briefing to mark the 11th sale in SailGP. The company was founded by America's Cup veteran, Russell Coutts, and Larry Ellison.

DeVos said, "We want not only to win on water but also off water."

SailGP launched its first long-term base of training at the Pensacola Florida performance and innovation center run by American Magic last month. The U.S. outfit had been a contender for the America's Cup in Barcelona in 2024 but decided to not take part in next year's 38th edition in Naples.

American Magic will operate and own the team. The team will continue to represent Denmark, and will have at least three Danish athletes in full crew, according to SailGP's nationality rules. ROCKWOOL is its title sponsor until 2032.

"SailGP was launched with a centrally owned model for our team. SailGP's Managing Director Andrew Thompson stated that the team had a plan to move to private ownership within?our first 5?seasons.

American Magic's ROCKWOOL?Racing will continue to run under the Danish helmsman Nicolai?Sehested, who ended last season in seventh place overall, and with a breakthrough victory in Abu Dhabi.

Chris Bedford, chief meteorologist at SailGP, says that the forecast for New Zealand Sail Grand Prix could test Denmark's 'championship speed records' this weekend in Auckland.

It's possible that we will see a world record in speed," Bedford said. (Reporting and editing by Ed Osmond; Alexander Smith)

(source: Reuters)