American Magic acquires Danish ROCKWOOL Racing SailGP Team to usher in new era

The fastest team on water just found another gear. The ROCKWOOL Racing SailGP Team has been bought from SailGP by leading sports investor and American Magic co-founder Doug DeVos, launching an exciting new chapter for the Danish team and its global fanbase.

DeVos, whose family own NBA’s Orlando Magic basketball team, paid more than USD $60 million for ROCKWOOL Racing, the current SailGP speed record holders who enjoyed their first Grand Prix victory in Abu Dhabi last season.

The move brings together three heavyweights of high-performance sport and innovation: SailGP, ROCKWOOL and American Magic now align under a shared ambition to push on-water performance to new heights while accelerating the development of the next generation of professional racing talent.

Sir Russell Coutts, SailGP CEO and co-founder, said: “Today’s announcement marks a significant moment for SailGP, and the start of a bold new era for ROCKWOOL Racing.

“American Magic are world-class operators, equipped to compete at the very highest levels of our sport. Together with the shared commitment and mission of ROCKWOOL, this new team ownership has the foundations for sustained performance, innovation, and growth for many years to come.”

The sale of ROCKWOOL Racing highlights the growing value and appeal of SailGP teams as the league continues to attract interest from elite investors across global sport and business.

For fans, the message is clear: this is about building a team to win the Rolex SailGP Championship.

“This is an exciting time for American Magic,” DeVos said. “Partnering with SailGP and ROCKWOOL Racing brings together three organizations committed to high performance.

“SailGP has reshaped the sport through global competition, innovation and fan engagement, and ROCKWOOL Racing is already a high-performing team with a strong foundation.

“Together, we see a clear opportunity to build a winning team, deliver results on and off the water, advance elite talent and inspire the next generation of sailors, designers and boat builders.”

DeVos is no stranger to the sailing world - his Quantum Racing team won the 52 Super Series four times before leading American Magic, New York Yacht Club’s 2021 and 2024 America’s Cup entry.

American Magic will own and operate the team, with ROCKWOOL continuing as Title Partner until 2032. The landmark extension, announced last year, makes the world leader in stone wool building materials the longest-standing team partner in SailGP.

ROCKWOOL will remain central to the team’s identity and long-term vision, while the team continues to represent Denmark and feature a minimum of three Danish athletes when fully crewed, in line with SailGP nationality rules.

ROCKWOOL Racing already owns a special place in SailGP history. The team holds the all-time speed record of 103.93km/h, set at the Germany Sail Grand Prix in Sassnitz during the 2025 Season. After finishing seventh overall in 2025, the Danes closed the year with a breakthrough event win in Abu Dhabi, offering a glimpse of what’s possible.

Led by Danish driver Nicolai Sehested, the team will transition into American Magic’s broader performance ecosystem, including access to the state-of-the-art American Magic Performance and Innovation Center in Pensacola, Florida, now a key part of SailGP’s long-term training pathway.

Mirella Vitale, Executive Vice President, Marketing, Communication and Public Affairs at ROCKWOOL Group, said: “We’re really excited about this new era of ROCKWOOL Racing, and guaranteeing a Danish entry on the SailGP start line for the long-term. We truly believe that Doug and American Magic are the perfect partners to take it to the next level, and accelerate our ambition of winning SailGP.”