USA SailGP team sold in bumper deal, Aussie skipper Jimmy Spithill leaves to head up new team

Australian sailing legend Jimmy Spithill has jumped ship from SailGP’s American team, which has been bought out in a bumper deal.

Australian Jimmy Spithill will jump ship from team USA in SailGP to skipper a brand new Italian team in a major shake up to the sailing league likened to Formula One on water.

Spithill announced earlier this week he was stepping aside after more than two seasons at the helm of SailGP’s American team.

The 44-year-old, a two-time America’s Cup winner with Oracle Team USA and a Sydney to Hobart winner, will head up a new Italian team which will join the fifth season of SailGP next year.

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Spithill wrote on Instagram: “Im Out! And what a crazy ride it has been!

“Incredible group of teammates on & off the water, an absolute honour and privilege to represent the USA. Excited to finally execute this deal & cant wait to give more details about the Italian Team in 2024.”

“I leave it in as good a shape as I could,” Spithill told the Associated Press.

“If I look at when I started it, what I built and how I’m leaving it, it’s basically qualified for the final right now, having just won the last event, giving them a team with a winning culture and that’s competitive and with some value. That’s important to me and now I get the option to build with Italy.

Jimmy Spithill is leaving team USA for team Italy. (Photo by David Ramos/Getty Images)

“I’ve competed in and for Italy - multiple times in my career, and the fans are the most passionate and loyal I’ve ever experienced. There is no doubt in my mind we will see a lot of interest in the team, a lot of amazing athletes and I look forward to releasing more details early next year,” he said.

Spithill will be an honorary Italian next year as he is also preparing to race as co-helmsman for Luna Rossa Prada Pirelli Team at the 37th American’s Cup.

In SailGP, the United States team is third in the standings after five of 13 regattas in season 4.

But the Americans have underperformed overall, winning just two events over four seasons despite skyrocketing TV ratings in the US and four American events on the calendar in Chicago, New York, Los Angeles and San Francisco.

Taylor Canfield will replace Spithill as the driver for the US SailGP team, which has been bought out by owners and backers from “across technology, sport, entertainment, and media”.

🔒 Taylor Canfield will step into the role of driver for @SailGPUSA 🙌 pic.twitter.com/DoBtgwxawz

— SailGP (@SailGP) November 29, 2023

The group includes boxer Deontay Wilder, tech entrepreneurs Ryan and Margaret McKillen, actor Issa Rae, DJ and producer Gryffin, and NFL stars DeAndre Hopkins, Malik Jackson, Roquan Smith, and Kayvon Thibodeaux.

The amount of the sale has not been disclosed, but the team’s news owners said it surpasses the $40 million valuation for the Great Britain team earlier this year.

“It’s the biggest deal in SailGP’s history,” a rep for the new owners said, per Bloomberg.

Australia has won the first three editions of SailGP. (Photo by Josh Edelson / AFP)

SailGP is the brainchild of five-time America’s Cup winner Russell Coutts and Oracle founder Larry Ellison, and team USA’s move into private ownership is a significant milestone for the league, which hopes other teams will follow suit.

SailGP welcomed a new German team backed by four-time F1 world champion Sebastian Vettel this season and will continue its expansion with an Italian outfit that will bring the total fleet to a total of 10 boats.

Meanwhile, the Australian team will have a different driver at the next event in Dubai as Tom Slingsby awaits the birth of his first child.

The Aussies announced Spithill will take the wheel of the Flying Roo in Slingsby’s absence in Dubai.

Spithill said: “It’s an honour to step in for a good mate and drive for Australia. This team has been the absolute benchmark since SailGP started, I have personally raced and worked with a lot of the Team, and I’m really looking forward to learning and racing with the most consistent squad in SailGP.

“When Tom approached me I was stoked but I did jokingly tell him my one condition, which is that he needs to name his first child Jimmy. My goal is no different to past races with the USA SailGP team: go out, race hard, stay consistent, and hopefully be in a position on Sunday to make the final.”

Speaking about his friend and former crewmate, Slingsby said: “Jimmy is a legend of our sport. He’s a natural leader who brings the perfect blend of race smarts, aggression and composure out on the water.

“Despite a shaky start in Dubai in Season 3, we were able to achieve some pretty remarkable things there with our comeback victory, and I’m really keen to see what Jimmy can deliver using his previous experience racing in SailGP with the Aussies next weekend.”

Australia has won all three seasons of SailGP so far. The fourth season continues in Dubai on December 9-10.

Get all the inside info on the sale of the United States SailGP team in the latest episode of the Racing On The Edge documentary on Fox Sports and Kayo.

Originally published as USA SailGP team sold in bumper deal, Aussie skipper Jimmy Spithill leaves to head up new team