A $60 million investment is reshaping the SailGP grid. American Magic, co-founded by Doug DeVos, has acquired Rockwool Racing in a significant ownership move which signals fresh momentum for the Danish team and renewed confidence in SailGP’s commercial trajectory.
Illustrating that America can purchase at least one thing that comes under the banner of Danish ownership, the Rockwool Racing deal headed by sports investor and American Magic Co-Founder Doug DeVos is supported by Miller Johnson and IKON Capital (joining as a co-investor).
Denmark’s SailGP future guaranteed
American Magic will own and operate the team, with Rockwool continuing as Title Partner until 2032. The team will continue to represent Denmark and will feature a minimum of three Danish athletes when fully crewed, in line with SailGP nationality rules.
“This is an exciting time for American Magic,” says DeVos. “Partnering with SailGP and Rockwool Racing brings together three organisations committed to high performance.
“SailGP has reshaped the sport through global competition, innovation, and fan engagement.”
From speed record to strategic investment
Rockwool Racing is already a high-performing team with a strong foundation. It set the all-time SailGP speed record of 103.93km/h at the Germany Sail Grand Prix in Sassnitz during the 2025 Season. In 2025, the team finished seventh – closing the year with a breakthrough event win in Abu Dhabi.
“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,” continues DeVos.
The long-term title partnership means that the stone wool building materials company will become the longest-standing team partner in SailGP.
“Having built the Danish team from scratch to a record valuation over the past five years, this partnership allows Rockwool to do what we do best, supporting the project with global marketing activation, brand building, and top-tier customer hospitality, while American Magic brings its world-class leadership, performance capabilities, and technical excellence to team operations,” says Mirella Vitale, executive vice president, marketing, communication and public affairs at Rockwool Group. She’s excited that in the new era, a Danish entry is guaranteed on the start line.
Pensacola performance hub strengthens pathway
The team – led by Danish driver Nicolai Sehested – will transition into American Magic’s broader performance eco-system, with a focus on elite performance and talent development. Earlier this year, SailGP launched a training base at the American Magic Performance and Innovation Centre in Pensacola, Florida, as part of the wider agreement between the two organisations.
“This acquisition transforms a passion-driven project into a return-delivering, strategic investment in a fast-growing sport,” notes Mike Cazer, chief executive officer of American Magic. “We look forward to building the team’s high-performance platform, helping it compete at the front of the fleet, and adding value to the league. Success, for us, means developing a winning team in Rockwool Racing, strengthening SailGP, and delivering for our title sponsor.”
Investor appetite grows around SailGP
The league continues to attract interest from a range of investors – including high net worth individuals, notable investors, established sports funds, private equity, and venture capital groups.
For SailGP, the deal underscores growing investor confidence in a league blending elite performance, global reach and commercial scalability. For Denmark, it guarantees a national presence on one of sport’s fastest stages. And for American Magic (which also integrates the US sailing Olympic pathways), it marks the start of a high-performance chapter.
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