New York City’s waterfront isn’t just a postcard-perfect backdrop for foiling catamarans. It is also a growing arena for business. SailGP returned to the New York Harbor this past weekend, and this season it is not only supercharged by strong winds, it is powered by major financial players. In the high-stakes world of elite sailing, banks have moved from backseat sponsors to visible team partners, aligning capital and results in ways that are rapidly transforming the sport and its commercial appeal.
The New Finance Of Sailing
Launched in 2018 with backing from Larry Ellison and Russell Coutts, SailGP set out to emulate Formula 1 on water. From the outset, the goal was clear: to build a market-driven league where teams are commercially viable and independently operated. Initially, all teams were owned by SailGP. Today, several are independently owned, and bank sponsorship has become integral to their success.
The Spanish SailGP Team is backed by Santander Private Banking, part of the 14th largest bank in the world. They say this partnership reflects their focus on innovation, technology, and international visibility. The Germany SailGP Team secured a three-year partnership with Deutsche Bank Wealth Management. They are linking this investment into themes of sustainability, client engagement, and ocean conservation. Team USA is sponsored by the fintech Apex, a platform used by financial institutions to manage their operations.
These boats now double as hospitality platforms for high-value clients and prospects. Waterfront viewing decks, private on-board experiences, and exclusive networking events replace traditional stadium boxes.
Valuation And Investment Momentum
The financial impact of sponsorships is tangible. The U.S. team is currently raising new funding at a $125 pre-million valuation, nearly doubling from its previous round just 18 months ago. The rise in valuation is tied to the strength of its commercial partnerships, which now also include major brands like Amazon and Tommy Hilfiger.
The league has also expanded significantly, growing from six national teams in 2018 to twelve today. The number of live events has increased from five in 2019 to fourteen this year.
As such, SailGP’s reach continues to grow, with global viewership exceeding 200 million and U.S. audience numbers rising sharply. In New York, in-person attendance doubled from 5,000 last year to 10,000 this year. Earlier in the season, the race in Auckland, New Zealand, set a new record with 40,000 spectators watching live.
That reach enhances the value proposition for financial sponsors looking for differentiated ways to connect with clients and reinforce their brand values.
Sustainability As Strategy
Bank sponsors are also using SailGP to showcase environmental leadership. Deutsche Bank’s involvement supports its blue economy strategy. SailGP runs an internal competition, the Impact League, which scores teams based on sustainability metrics. This structure offers sponsors a tangible link to environmental action, turning sailing into a narrative about responsible growth and innovation.
With rising regulatory pressure and investor demand for ESG accountability, bank involvement in SailGP provides a compelling platform to demonstrate progress on sustainability goals.
For more like this on Forbes, check out The Legacy Banks Quietly Building The Future Of Finance and The 3 Innovation Challenges Keeping Bank CEOs Awake At Night.
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