SailGP purchases former Team NZ America’s Cup boat as 12-team fleet targeted for Auckland event

After preparing to drop a team for the new season, SailGP has changed tack.

The arrival of two newcomers to the current 10-team fleet and only 11 available boats meant the league was preparing to move forward without one of the incumbents.

However, after purchasing an AC50 foiling catamaran from America’s Cup syndicate Team New Zealand, the league is expected to have 12 boats in time for its Auckland regatta on January 18-19.

While the league would not comment on what they paid for the vessel, the acquisition was expected to save SailGP US$800,000 in time and production costs.

It was yet to be determined which team would miss out on a boat for the season opener in Dubai in November, but whichever team did miss out would be awarded compensation points before joining the fleet in Auckland.

“The process of transforming this AC50 to an F50 is complex in some areas, and simple in others – depending on which features were one-design during the America’s Cup,” SailGP Technologies director Joel Marginson said.

“The boat is currently in Auckland, where the bulk of the modifications will take place. Our SailGP Technologies Team in Southampton, UK, is leading production of hundreds of components, to be shipped to New Zealand periodically to keep pace with the build.”

The wing sail for the boat is being constructed in the UK, but is expected to be shipped to Auckland next month for an early January arrival.

“Once complete, hydraulic, electric, systems and structural testing will all be scheduled at the tech site, in the lead-up to the New Zealand event,” Marginson said.

“The timeline is tight, but we are confident in our ability to get boat 12 on the start line and ready to race. We have approximately 30 individuals working on this in the UK, another 15 in New Zealand, plus the SailGP technical team on-site at our events.”

The move to fast-track the development of a 12th F50 foiling catamaran was a strategic decision, made in line with rising team valuations, which was said to be in excess of US$45 million (NZ$74m).

The news comes after the recent sale of the Canadian SailGP Team, who were one of four crews on the chopping block for next season.

Teams still receiving funding from the league were put on notice late in the season that they could lose their spot, those teams being Canada, France, season four champions Spain and the two-time finalists from New Zealand, the Black Foils. Leading into the season four grand final in San Francisco in July, Canada, France and Spain were all facing the cut, however, had all three found the sponsorship to become fully funded without league help, attention would then turn to the Kiwis.

Instead, SailGP’s debut event in Auckland is now likely to see the biggest fleet in the league’s history competing.

Christopher Reive joined the Herald sports team in 2017, bringing the same versatility to his coverage as he does to his sports viewing habits.