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UAE’s Mubadala acquires new Brazil SailGP team

Brazil's team will be the first South American squad to join the SailGP league Wam
Brazil's team will be the first South American squad to join the SailGP league

Mubadala Capital, a wholly owned subsidiary of Abu Dhabi’s Mubadala Investment Company, has acquired a new team in SailGP, the global racing championship, to represent Brazil.

The team will be the first South American squad to join the SailGP league and the first of the new teams confirmed ahead of Season 5, the state-run Wam news agency reported.

The value of the deal was not given.

Brazil will join the start line of the global racing championship from the beginning of Season 5, which commences in November 2024.  

Brazilian sports and entertainment company IMM will operate the new team.

Now in its fourth season, SailGP provides 13 events in a year-round calendar, with further expansion slated for Season 5.

Last year, Mubadala announced its global partnership with SailGP until the 2026 season.

The UAE sovereign fund began its partnership with SailGP as the title sponsor for the San Francisco race in Season 3, which extended further with the launch of the Abu Dhabi race.

Last month, the two entities announced a new production partnership with Strata Manufacturing, a Mubadala-owned aerospace facility, to develop and manufacture new SailGP hydrofoils and rudders to be introduced in Season 5, as well as other key elements of SailGP’s F50 catamarans.

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