Quantum Pacific acquires Los Gallos as SailGP nears full private ownership

Los Gallos have been acquired by Quantum Pacific Group in what SailGP describes as the largest-ever investment in a Spanish sailing team.

The deal brings the Spanish outfit into a sports portfolio that includes Atlético de Madrid, Portuguese football club FC Famalicão, and Spanish cycling team Movistar. For a league that launched with centrally-owned teams and has spent six seasons selling them off, it's another step toward a fully privatised fleet.

Los Gallos CEO Antonio Alquézar acknowledges the step up. Quantum Pacific's "unmatched experience in sport," he says, provides the platform to build on the team's recent success. "We are here to win, and we are here to build something that lasts," added Quantum Pacific (UK) CEO Antoine Bonnier.

SailGP managing director Andrew Thompson described Spain as "a cornerstone market for us, defined by its rich sporting culture, incredibly passionate fanbase and a winning SailGP team." The league will make its Valencia debut in September, following four seasons in Cádiz.

Los Gallos enter the new ownership era in fine shape. Diego Botín and Florian Trittel, the Paris 49er Olympic champions, lead a squad that’s been at or near the top since their title-winning fourth season. The two have plenty on their plates beyond SailGP – they recently confirmed they're joining the French America's Cup challenge, lining up alongside SailGP rival Quentin Delapierre while also working toward another Olympic cycle in the 49er.

It's worth noting Quantum Pacific weren't the only ones circling. The key figures behind American Racing Challenger Team USA – the newly-formed America's Cup syndicate announced just yesterday – were also understood to be in the running to purchase the Spanish team. Meanwhile, American Magic has pivoted from Cup campaigns to SailGP ownership after acquiring the Danish team for $60 million. Elite sailing, it seems, has become a seller's market.

Los Gallos are now the 12th SailGP team to move into private hands, leaving New Zealand as the only squad still owned by the league. Following the Black Foils’ high-speed collision with France in Auckland, Pete Burling confirmed yesterday they're having an entirely new F50 built from scratch. With the salvageable parts of the Kiwi boat used to repair France's F50, France returns to racing in Rio this weekend while the Kiwis wait. Expensive and complicated business for a team without private backing – though we should have a better sense of their return after Rio.