Sailing-Ellison's SailGP valued at $200 mln in Endeavor deal

SailGP said on Thursday it had sold a minority stake to sports and entertainment group Endeavor in a deal valuing the fledgling sailing event backed by Oracle's billionaire founder Larry Ellison at $200 million. "Endeavor's partnership ... strengthens our position going into our second season and signals the projected long-term value of SailGP," its CEO Russell Coutts said in a statement.

SailGP, which is raced in identical F50 foiling catamarans and culminates in a $1 million winner-take-all match race, said it will gain from access to Endeavor's expertise in areas including content production, media rights distribution, licensing, sponsorship and consumer marketing.