SailGP takes step closer to goal

When the SailGP league was founded, it owned all the teams with the stated goal of having them off their books in five seasons. They haven’t quite made it, but just took a step closer in season six when Israeli billionaire Idan Ofer bought Los Gallos, the Spanish-based team in the global sailing competition.

The son of Israeli shipping magnate Sammy Ofer, he now has interests in energy, mining, shipping and sports, and has amassed a fortune of more than $30 billion. Ofer also owns stakes in LaLiga’s Atletico Madrid, Portuguese football club Famalicao, and Spanish cycling team Movistar.

How much his company, Quantum Pacific, paid has not been revealed but it is likely to be in the region of the $60 million that American Doug DeVos spent on Danish-based Rockwool Racing SailGP Team in February 2026.

The New Zealand team, which destroyed their boat in a collision with France during the second event, is the only team still owned by the league.