Chelsea investors Ares Management has joined Kylian Mbappe in buying a minority stake in the France SailGP Team.
Their acquisition has turned the sailing team into a fully privately-funded enterprise. The move follows celebrity investments in the Australian and Italian teams by Hollywood stars Ryan Reynolds and Anne Hathaway respectively.
Ares Management invested $500 million (£405m) into Chelsea two years ago and has stakes in Atletico Madrid and Inter Miami. They also played a role in Crystal Palace co-owner John Textor purchasing Lyon through Eagle Football.
On its move into sailing, co-lead of Ares' sports, media and entertainment strategy Jim Miller said: "SailGP has achieved impressive growth across its teams, viewership and engagement, and we are thrilled to enter the league and join the France SailGP Team's existing owners group at this inflexion point.
"With the team's expanding ecosystem of dedicated athletes, sponsors and fans, alongside Ares' experience investing in premier global sports teams, we are eager to lend our capabilities as the team continues to build on its momentum."
Sail GP managing director Andrew Thompson added: "Today is an exciting milestone for SailGP, as we welcome Ares to our growing group of investors and team owners.
"The investment in our French team by an organisation with a stellar portfolio of first-rate sports properties underlines the strength of SailGP's global league model and reinforces the commercial potential of our teams.
"Ares brings both institutional capital and deep strategic insights – they'll be a highly-valuable collaborator in growing the French team and the Rolex SailGP Championship more broadly."
Launched by Oracle's Larry Ellison and Sir Russell Coutts in 2019, SailGP boasts 11 teams from Australia, Brazil, Canada, Denmark, France, Germany, Great Britain, Italy, New Zealand, Spain, Switzerland and the United States, with two more coming next year. Team valuations reportedly range from $45m (£34m) to $125m (£93m).
The Financial Times reported in September 2023 that Ares had made a capital injection into Chelsea with the club's owners looking to fund improvements to the club's Stamford Bridge ground and buy stakes in other football teams.
Chelsea are owned by BlueCo, who also have a share in the French club Strasbourg. The Blues have qualified for the Champions League for the first time under the consortium's - including Clearlake Capital and Todd Boehly - ownership with a fourth-placed finish confirmed last season with a European Conference League trophy to boot.
"We have bought an asset that is very coveted by many other potential buyers," Jose Feliciano, Clearlake Capital co-owner, said in 2023.
"Ultimately, we are extremely aligned with that supporter and fan base because the best way to make our club more valuable is to win."
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Cole Palmer of Chelsea celebrates scoring his team's second goal from the penalty spot with team mate Jadon Sancho during the Premier League match between Chelsea FC and Brighton & Hove Albion FC at Stamford Bridge on September 28, 2024
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