SailGP's New Zealand team sells majority stake to private equity firm MSP Sports Capital

MSP Sports Capital’s purchase of a majority stake in the New Zealand SailGP Team marks a turning point for the Black Foils as private investment reaches all 13 teams. The deal makes New Zealand’s squad the last in SailGP to secure external backing, following a challenging season that included a high-speed Auckland crash and a later collision with the French crew after the F50 was repaired. The announcement comes ahead of the Halifax return with co-CEOs Peter Burling, Blair Tuke and their crew, who have been out for more than four months. MSP, founded by Jahm Najafi and Jeff Moorad, spans MLB, NBA, NFL, Formula 1 and European football. CEO Jeff Moorad said the partnership aims to win championships, elevate the Black Foils, and build a global brand rooted in New Zealand’s sailing culture. The squad took to the water on a new carbon-fiber F50 and blessed the boat Manawatītī, a name connected to the tītī seabird known for stamina and long ocean voyages. The team will contest practice races in Halifax on Friday before the fleet competition begins; Burling and Tuke acknowledge the comeback will require sustained improvement as they strive to reach the Championship finale in Abu Dhabi this November.