ROCKWOOL Racing has been sold to American Magic in a transaction valued at approximately USD $60 million.
The change of ownership was confirmed at yesterday’s pre-race press conference in Auckland, where SailGP CEO Sir Russell Coutts appeared alongside representatives of the new ownership group.
Doug DeVos, American businessman and owner of the NBA’s Orlando Magic, has taken control of the Danish SailGP team. The team will continue to race under the ROCKWOOL Racing name.
DeVos was direct about his objective.
“We’re here to win.”
American Magic has followed SailGP since its launch. The organisation’s entry into the league has been under discussion for several years, with the growing scale of the championship playing a role in the decision.
ROCKWOOL Racing arrives under new ownership as an established front-runner. The team won in Abu Dhabi during the 2025 season and has regularly featured near the top of the fleet.
The intent is not to restructure the team but to strengthen it. American Magic’s focus will centre on performance systems, coaching and technical support. Terry Hutchinson will be closely involved through his role as President of Sailing Operations, alongside CEO Mike Cazer.
At USD $60 million, the sale places ROCKWOOL Racing among Denmark’s highest-valued sporting assets. The new American expectation is performance.
