On Nov. 29, it was announced that the media mogul joined the ownership group for the U.S. SailGP racing team, Forbes reports.
Led by Avenue Capital Group CEO Marc Lasry’s Avenue Sports Fund, the new investment group includes Rae, boxing heavyweight Deontay Wilder, NFL players DeAndre Hopkins, Malik Jackson, Roquan Smith, and Kayvon Thibodeaux, and more.
“By bringing together this remarkable group to acquire the United States SailGP Team, we have reached an important milestone in the growth of our sport,” U.S. SailGP Team Co-owner and Chairman Ryan McKillen said, according to the outlet.
He continued, “As sailors, we love this sport and want to introduce it to millions; as entrepreneurs, we recognize the potential and growth trajectory of SailGP and how our U.S. SailGP Team can introduce the future of on-water racing at the highest level. Our incredible ownership group is a testament to the growth and expansion of SailGP into the mainstream.”
Along with news of the diverse group of investors, the outlet details that the U.S. SailGP is set to be “the largest team acquisition in SailGP history.”
“We believe that diversity is a competitive advantage, and it needs to start at the top,” said Mike Buckley, U.S. SailGP Team Co-owner and CEO. “We have assembled the most diverse ownership group in the history of our sport.”
On Dec. 9, the U.S. SailGP Team will make its debut at the Emirates Dubai Sail Grand Prix.
Rae is on a streak of making “ownership” her middle name.
As previously reported by AFROTECH, just last month, the multi-hyphenate partnered with E. & J. Gallo Winery to launch Viarae Prosecco.
After toasting with a glass of her very own prosecco while speaking at AFROTECH Conference 2023, Rae shared that one of her future goals is to own her intellectual property.
“So being part of an overall deal, that’s something that I’m blessed to be part of… The only downside is you don’t own the things that you make,” Rae said. “And so part of my turning for is figuring that out and making sure that I own my sh-t, but that takes capital. That takes a boost. But that is for sure the next era of my journey, is how I own my sh-t.”
