SailGP Italy Cost Discussed by Muse Capital Head, Details on Expansion Strategies Revealed
SailGP's Italy Team Acquired by Women-Led Investment Firm Muse Capital for $45 Million
Muse Capital, an investment firm led by Assia Grazioli-Venier, has become the new controlling partner of Team Italy in the SailGP league, having purchased the team for $45 million. According to Grazioli-Venier, this purchase marks a significant stride for the firm, demonstrating its ability to spot and recognize valuable opportunities in the burgeoning sports industry.
Grazioli-Venier, who first invested in SailGP in 2023 with a minority stake in the U.S. team, asserted that the seemingly discounted price for the Italy team is indicative of the benefits Muse ownership can bring beyond mere financial capital. The league's pre-existing Red Bull sponsorship helps cover the league-imposed annual capital spending cap of $10 million, likely contributing to the relatively low purchase price.
Muse's syndicate of owners will be a mix of celebrities, sailors, and fellow investment funds, among other participants. Grazioli-Venier's purchase of the Italy team marks her first majority sports team ownership position, further solidifying her reputation as a media and entertainment expert. Her background includes early employment with Daniel Ek at Spotify and a stint as the first woman board member of Juventus.
Grazioli-Venier was initially uninterested in sailing when she was approached to join Marc Lasry's $35 million purchase of the U.S. SailGP team. However, upon closer examination, she recognized the attractive commercial potential in SailGP, which offers an annual season near shore in popular regions and caps team spending to ensure competitive balance.
The Italian SailGP team offers significant growth potential, attracting not just existing sailing fans but also new, younger fans interested in high-adrenaline sports. This growth can be particularly strong in Italy, where 79% of SailGP followers are new to sailing, and the country's boating history bodes well for expansion. Grazioli-Venier also sees potential for leveraging technology, such as augmented reality, to boost sponsorships and revenue for Team Italy.
Despite these opportunities, the success of SailGP is not guaranteed. An effort to crowdsource ownership funding for a Caribbean and Bermuda team has fallen short of its $35 million goal. However, Grazioli-Venier remains optimistic about SailGP's growth and her role as the league's first female franchise owner.
The addressable market for SailGP is large and largely untapped, with significant potential for growth among both established and emerging sports. Grazioli-Venier expressed confidence in SailGP's ability to continue to grow the sport and in her ability to contribute to that growth.
With its focus on emerging sports and women's sports, Muse Capital's investment in SailGP represents a strategic move to capitalize on growing trends in the sports industry. The firm's commitment to these areas, combined with its leadership and diverse network of investors, positions SailGP for long-term success and growth.
- People with diverse backgrounds, such as celebrities, sailors, and other investment funds, will be a part of the new Italian SailGP team owned by Muse Capital.
- Grazioli-Venier, the media and entertainment expert who purchased the Italian SailGP team, sees technology, particularly augmented reality, as a potential way to boost Team Italy's sponsorships and revenue.
- The success of SailGP, a growing league in the real estate of sports, is not guaranteed, but Grazioli-Venier remains optimistic about its potential, especially its ability to attract new, younger fans, particularly in Italy, and its focus on emerging sports, including women's sports.
