Hamlins acts for SailGP in Ben Ainslie acquisition
Hamlins has acted for SailGP – the purpose-led global racing league – in its acquisition by Olympic gold medallist and America’s Cup winner, Sir Ben Ainslie.
Ainslie, alongside Chris Bake, has purchased a majority stake in the Great Britain SailGP Team, with Oracle Racing retaining a minority stake.
The Great Britain SailGP Team is one of the first third-party owned franchise teams in the league. Two additional third-party owned franchises – Switzerland and Canada – will join the league for Season 3, which commences in May 2022.
SailGP was founded in 2018 by Larry Ellison and Sir Russell Coutts, as a revolutionary new global sporting format, aimed at redefining the sport. The championship sees national teams compete on 50-foot, wing-sailed catamarans across a season of grands prix in iconic locations across the globe.
SailGP is the first climate-positive sport and entertainment property. Its aim to accelerate the transition to clean energy, and its focus on leading the development of sustainable initiatives, make it a compelling brand for like-minded partners.
The acquisition will provide opportunities for further growth of the global league and closer access to new fans which the series is targeting.
Ben Ainslie said: “Having joined SailGP in 2019, I am hugely excited to be able to cement my passion for the team, alongside that of Chris Bake’s, via this acquisition. This is an incredible time for SailGP and presents us with an opportunity to welcome new like-minded partners to the Great Britain team, who share our ethos and our drive to push forward positive change."
Hamlins is the exclusive legal supplier of SailGP and has been supporting SailGP since its inception, advising on the structuring and protection of the commercial, media and intellectual property rights of the league and negotiating and structuring brand and media collaborations and partnership arrangements.
Matthew Pryke, Managing Partner, said: “We are thrilled to have been able to support SailGP with this ground-breaking agreement and look forward to continuing to support the championship as it continues to grow in popularity and size over the coming months.”
Hamlins provides a unique offering to the sports industry, delivering a combination of commercial, IP, corporate, regulatory and privacy expertise. For more information, please contact Matthew Pryke, Managing Partner and Head of Commercial and Tech.