By Alexander Smith
LONDON, April 9 (Reuters) - Spain's Los Gallos, who are led by Olympic sailing champions Diego Botin and Florian Trittel, have been sold to investment group Quantum Pacific, SailGP said on Thursday.
SailGP did not disclose financial details of the deal, which the sailing league said marked the 12th team it had now sold, among a total of 13 who are competing this season.
Quantum Pacific's sporting stable already includes LaLiga soccer club Atletico Madrid and Spanish cycling team Movistar.
"The Iberian region is a market we know well and believe in fully," said Quantum Pacific CEO Antoine Bonnier. "SailGP, with its global audience and elite competitive format, is exactly the kind of high-growth sport platform we believe in," he added.
"We are here to win, and we are here to build something that lasts," Bonnier added in a statement on the acquisition of Los Gallos, who won SailGP's season four championship in 2024.
SailGP returns to action this weekend in Rio de Janeiro, marking its South American debut. Los Gallos, who are lying fifth in this season's championship table, will appear before their home crowd in September when the racing moves to Valencia.
"We are excited to begin this new chapter with greater ambition and a clear long-term vision," said Los Gallos CEO Antonio Alquezar, adding the Quantum Pacific deal gave them a platform to build on their recent strong performances.
Founded in 2019 by Russell Coutts and Oracle's Larry Ellison, SailGP has evolved into a franchise model that has attracted celebrities and institutional investors alike.
Hollywood stars Hugh Jackman and Ryan Reynolds acquired Australia's Flying Roos, while a consortium of sports industry leaders took control of the Italian team.
(Reporting by Alexander Smith; Editing by Ken Ferris)
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