Three nations are locked in a €100m battle to join the SailGP grid as the sailing series expands to 14 teams, City AM can reveal.
The fifth season of the competition concluded at the weekend in Abu Dhabi with British team Emirates GBR winning their first title.
And the 12-team sailing competition will expand to 13 teams next season with Swedish entry Artemis.
But SailGP has confirmed that a 14th spot is open for the 2027 season and it is understood that three teams are bidding for the place.
Abu Dhabi are leading the race for the spot, as revealed in City AM this week, but they are facing competition from China and Mexico. Mexico and Abu Dhabi are yet to feature in SailGP but a Chinese team competed in the opening season in 2019.
Regatta insiders state that the price has been set at €100m, as recent investment in SailGP continues to grow franchise value.
A SailGP spokesperson said: “SailGP is in active discussions with several prospective ownership groups regarding expansion teams for the 2027 Season and beyond.
“Interest continues to grow, with team valuations now exceeding $60m. The UAE, China and Mexico remain priority markets for the league and would be welcome additions to our expanding team roster.”
SailGP boom
Wrexham co-owner Ryan Reynolds joined forces with Hugh Jackman to buy a stake in the Australian team, Anne Hathaway is part of a consortium that purchased the Italian team, Kylian Mbappe teamed up with Atletico Madrid investors Ares Management to buy part of the French team and world champion boxer Deontay Wilder and NFL player DeAndre Hopkins are part of a fund that have a stake in the US team.
The sport has managed to acquire growing investor interest, while sponsors compete for space on the hulls of the 12 boats.
Mubadala, the UAE state-owned global investment firm, currently sponsors the Brazilian team, which joined the roster this year.