The sale of ROCKWOOL Racing to American Magic, confirmed at a value of approximately USD $60 million, was announced at yesterday's pre-race press conference in Auckland. SailGP CEO Sir Russell Coutts appeared at the event alongside representatives of the incoming ownership group to confirm the transaction.
Doug DeVos, the American businessman behind the NBA's Orlando Magic franchise, has acquired the Danish SailGP team. Despite the change in ownership, the team will continue to compete under the ROCKWOOL Racing name.
DeVos made no secret of what he is after.
“We’re here to win.”
American Magic's interest in SailGP dates back to the championship's earliest days, and the possibility of a formal entry into the league has been a conversation years in the making. The expanding scale and profile of the competition ultimately contributed to the decision to move forward.
ROCKWOOL Racing is not a project in need of rescue. The team comes under new ownership as an established contender, having taken victory in Abu Dhabi during the 2025 season and consistently placing among the front-runners across the fleet.
The intention is not to dismantle what already works but to build on it. American Magic will direct its attention toward performance systems, coaching infrastructure, and technical support. Terry Hutchinson, in his capacity as President of Sailing Operations, will be closely involved in that effort, working alongside CEO Mike Cazer.
At USD $60 million, the transaction places ROCKWOOL Racing among the most valuable sporting assets Denmark has produced. The expectation that comes with American ownership is straightforward: results.
