'We're still Danish': What American Magic takeover means for Rockwool
An organisation built around the oldest trophy in sport is now going all-in on the newest league in elite sailing.
As we reported last week, American Magic – the New York Yacht Club's Cup challenger for the past two America’s Cups – has bought Rockwool Denmark for $60m. It's a full takeover, with a hundred per cent ownership.
SailGP's one-nation rule meant they couldn't launch their own American team, so they've taken over the Danish programme instead.
But it’s not a hostile takeover. Rockwool stays on as title sponsor through 2032. Skipper Nicolai Sehested keeps the wheel, and the current crew keep their seats. What changes is who's calling the shots behind the scenes – and the resources now at their disposal.
In Auckland this weekend The Foil’s Andy Rice and Freddie Carr caught up with American Magic’s president of sailing operations Terry Hutchinson and Nicolai Sehested to learn more.
The message was clear: the entry remains Danish – at least for the time being…
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