American Magic’s $60 Million Acquisition of SailGP’s Fastest Team Strengthens Pensacola’s Role in Global Sailing—
Pensacola’s growing profile as a world-class sailing hub got another boost today with the announcement that American Magic co-founder Doug DeVos has acquired the ROCKWOOL Racing SailGP Team in a $60 million deal — further cementing the connection between the global racing league and its operations base on Pensacola Bay.
- The transaction pairs American Magic, which already operates its Performance and Innovation Center in Pensacola, with the Danish team that holds the all-time SailGP speed record of 103.93 km/h. American Magic will own and operate the team, while ROCKWOOL continues as title partner through 2032 — the longest-standing team sponsorship in the league.
“This is an exciting time for American Magic,” DeVos said in a statement. “Partnering with SailGP and ROCKWOOL Racing brings together three organizations committed to high performance.”
Why this matters: The deal matters for Pensacola because American Magic’s footprint here continues to expand. Earlier this year, SailGP launched its first long-term training base at the American Magic Performance and Innovation Center, part of a broader agreement between the two organizations. The ROCKWOOL Racing team will now transition into that same performance ecosystem, meaning more high-level sailing operations flowing through Pensacola’s waterfront facilities.
- SailGP CEO Sir Russell Coutts called the acquisition “a significant moment” for the league. “American Magic are world-class operators, equipped to compete at the very highest levels of our sport,” Coutts said.
Mayor D.C. Reeves texted me: “This further cements Pensacola as the preeminent sailing destination in the United States. We welcome the Rockwool team and we appreciate American Magic’s significant investment. This will change our community, our region, and puts this city on the map globally as a hub for sailing excellence.”
ROCKWOOK Who?
ROCKWOOL Racing finished seventh overall in the 2025 season but closed strong with an event win in Abu Dhabi. The team will continue to represent Denmark and feature at least three Danish athletes when fully crewed, per SailGP nationality rules. Danish driver Nicolai Sehested will continue to lead the squad.
Mirella Vitale, ROCKWOOL’s executive vice president of marketing, said the company built the Danish team “from scratch to a record valuation over the past five years” and believes American Magic is “the perfect partner to take it to the next level.”
American Magic CEO Mike Cazer framed the acquisition in business terms, calling it “a return-delivering, strategic investment in a fast-growing sport.”
- For Pensacola, the deal reinforces a trajectory that has been building for several years — the city’s transformation from a casual sailing town into a legitimate hub for elite racing operations. With American Magic now running two high-performance programs out of its Pensacola center, the economic and reputational benefits for the region are only set to grow.
The SailGP season continues this weekend with the New Zealand Sail Grand Prix in Auckland on February 14-15.