Endeavor on board for stake in SailGP

Alexander Smith
Tom Slingsby (2nd from right) and his Australia Team won last year's SailGP Championship

SailGP have sold a minority stake to sports and entertainment group Endeavor in a deal valuing the fledgling sailing event at $200 million ($A296 m)

SailGP's second season is due to start at the end of February in Sydney where local hero Tom Slingsby and his Australian crew will begin the defence of their 2019 title against teams from Denmark, France, Great Britain, Japan, Spain and the US.

SailGP, which is raced in identical F50 foiling catamarans and culminates in a $US1 million ($A1.5 million) winner-takes-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.

The SailGP catamarans, which lift up above the water on hydrofoils, are an updated version of those used in the America's Cup in Bermuda in 2017 and in their first season hit speeds of 50 knots (93km/h).

"If the first season is any indication, SailGP has incredible potential and strong value for its partners, and we look forward to helping forge the future of the league," Endeavor President Mark Shapiro said in the statement.