Quantum Pacific has acquired Spain's Los Gallos sailing team, led by Olympic champions Diego Botin & Florian Trittel. This was announced on Thursday.

SailGP did not reveal?financial information?of this deal. The sailing league stated that it was the 12th team they had sold out of a total 13 teams competing in the current season.

Quantum Pacific already has Spanish cycling team Movistar and LaLiga soccer team Atletico Madrid in its sporting stable.

Quantum Pacific CEO Antoine Bonnier said, "The Iberian Region is a market that we are familiar with and fully believe in." "SailGP is the type of sport platform that we are most interested in, because it has a global audience and a competitive format for elite athletes," said Antoine Bonnier, CEO at Quantum Pacific.

Bonnier said in a press release that they were "here to win and here to build something lasting" in relation with the acquisition of Los Gallos who won SailGP season four championship 2024.

SailGP will make its South American debut this weekend at Rio de Janeiro. Los Gallos who currently sit fifth in the championship table will face their home crowd when racing returns to Valencia in September.

Los Gallos CEO Antonio Alquezar said, "We are excited to start this new chapter. We have a clear long-term view and a greater ambition." The Quantum Pacific deal also gave them the opportunity to build upon their recent strong performance.

SailGP, founded?in 2019? by Russell Coutts & Oracle's Larry Ellison has become a franchise model that has attracted both celebrities and institutional investors.

Hollywood stars?Hugh Jackman, Ryan Reynolds and a group of industry leaders acquired Australia's Flying Roos while a consortium took control of Italy's team. (Reporting and editing by Ken Ferris; Alexander Smith)

(source: Reuters)