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Minority share sale puts SailGP value at US$200million

by Sail-World.com/nz 6 Feb 2020 13:02 PST 7 February 2020
SailGP Season 1 concludes in Marseille, France © Sam Kurtul / www.worldofthelens.co.uk

After running for three years (12 months in build and now in its second year of competition), SailGP has announced the sale of a minority shareholding to US based Endeavor Group Holdings. SailGP's second year of sailing starts in Sydney at the end of February.

Sport Business reports that SailGP, the team sailing competition founded and financially backed by Oracle billionaire Larry Ellison, has announced it has sold a minority stake to the Endeavor sports and entertainment group in a deal that values the series at $200m (€182m).

SailGP chief executive Sir Russell Coutts said today (Thursday) that that the investment “represents a pivotal moment in our young and developing history”.

Coutts added that the deal “strengthens our position going into our second season and signals the projected long-term value of SailGP”.

A statement from the sailing series and Endeavor on the future rights distribution read: “As part of the investment, SailGP will benefit from access to the Endeavor network’s expertise across content production, media rights distribution, creative services, licensing, sponsorships and consumer marketing.”

Talisman Sport and Media, the boutique media-rights agency, has worked with SailGP on the distribution of its international broadcast rights and remains in place in that role.

The investment by Endeavor will, however, increase the likelihood that Endeavor’s IMG agency could take on the distribution of SailGP’s media and sponsorship rights in the future. SailGP told SportBusiness that Talisman would be “supported by Endeavor/IMG moving forward”.

For the full story in Sport Business www.sportbusiness.com/news/sailgp-valued-at-200m-as-endeavor-invests-in-minority-stake

An IPO filing last year revealed that Endeavor, then just a decade old, would have valued the company at US$7.6billion with US$3.61billion of 2018 revenue with net income of US$100million. Initially a fast growing Hollywood talent agency established in 1995, the Beverly Hills based agency announced in 2009 that it was combining with another talent agency William Morris Agency which had been in operation for 109 years to form William Morris Endeavor.

Known for its aggressive expansion WME acquired the leading sports management company IMG in 2013 for US$2.4billion.

After that acquisition WME-IMG reorganised and became known as Endeavor but continued to operate under its marque brands.

In 2016 the group became a part owner of the Ultimate Fight Championship for US$4billion, the largest-ever acquisition in the sports industry.

Although the IPO was withdrawn after six months, Endeavor has continued with aggressive partnerships and acquisitions, of which its minority shareholding in SailGP would appear to be the latest.

The announcement by SailGP can be read by clicking here

For a timeline tracing Endeavor's origin and significant growth milestones see the Endeavorco.com/story

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