Next 3, the strategic investment firm founded by Carolyn Tisch Blodgett and backed by New York Giants co-owners Laurie, Jon and Steve Tisch, has acquired a stake in SailGP’s United States team, marking Next 3’s first investment in an international sports league.
The move expands Next 3’s growing portfolio of sports properties, which already includes stakes in the NFL’s New York Giants, NWSL’s Gotham FC, Tiger Woods and Rory McIlroy’s golf league TMRW Sports, Los Angeles Golf Club and League One Volleyball (LOVB).
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“I built Next 3 to invest and partner with the next generation of sports assets and innovative businesses that are shaping the future of sport — and SailGP is just that,” Tisch Blodgett told The Athletic in an email. “With SailGP, we see a brand that is both global and deeply local. We felt the energy firsthand at the NYC race with its high-quality fan experience and fast-paced action.”
SailGP, the professional sailing circuit founded in 2019 by Oracle’s Larry Ellison and Olympic sailing champion Russell Coutts, has seen rapid growth in both viewership and commercial interest in the last two years. Broadcast in more than 212 territories, the league has reported a 20 percent year-over-year increase in U.S. viewership, added new host cities to its schedule and announced major sponsorships with Rolex, Mubadala and Emirates.
“Thanks to Larry and Russell’s vision and the resources they put behind it, SailGP scaled fast,” Mike Buckley, co-owner and CEO of the U.S. SailGP team, told The Athletic in a video call. “It didn’t have to grow slowly over two decades, adding one person here, another there. Instead, it shot up in just a couple of years. They built a TV product that resonates with today’s audience: short-form, fast-paced and designed for people who don’t want to spend three or four hours watching a game. It meets the moment perfectly.
“And the live experience? You’re asking people to spend an afternoon by the ocean, in a stunning, iconic city. That’s not exactly a tough sell.”
While the financial details of Next 3’s investment is not disclosed, the deal places the firm among a diverse group of investors led by Marc Lasry’s Avenue Sports Fund and includes entrepreneur Gary Vaynerchuk; actress Issa Rae; boxer Deontay Wilder; NFL players DeAndre Hopkins, Roquan Smith, Kayvon Thibodeaux, Dallas Turner and Malik Jackson; American soccer player Jozy Altidore, and DJ Gryffin. The team counts with sponsors including Tommy Hilfiger, Red Bull, Amazon, AG1, T Mobile and APEX.
“When Ryan McKillen and I set out to buy this team, we didn’t want a bunch of people thinking alike in the same box,” Buckley explained. The two-time world champion acquired the team with Ryan and Margaret McKillen in November 2023. “We can learn a lot from what Next 3 has done with the Giants, what they’ve done with soccer, what they’re doing in TGL and how we can bring little bits and pieces into the SailGP ecosystem.”
Tisch Blodgett is aligned with Buckley’s view: “One of the most important criteria for us when we evaluate an investment is to ask the question of what strategic value can we add,” she said. “If we can’t articulate why we are on the cap table, we will likely not make the investment.”
The global sailing league, featuring 12 national teams racing identical F50 catamarans with co-ed crews at speeds up to 60 mph, has also made significant inroads with investors over the past 18 months.
In June, Hollywood stars Anne Hathaway acquired the Italy SailGP team at a $45 million valuation. According to Andy Thompson, SailGP Managing Director, who spoke with The Athletic in June, SailGP is selling teams in excess of $50 million and plans to continue expanding in 2026.
(Photo: Charly Triballeau / AFP via Getty Images)
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