Rolex becomes the first title sponsor of the SailGP global sailing competition.

• Rolex has been named the first title sponsor of SailGP's top-tier sailboat racing event.
• A global championship known as SailGP features twelve national teams from countries such as the U.S., Italy, and Germany competing in identical high-tech, high-speed 50-foot foiling catamarans.
• Several teams have secured significant sponsorships from major brands, including Red Bull, Emirates, Mubadala, Rockwool, and Deutsche Bank.

The sailboat racing competition of the self-described Formula 1 of sailing has secured Rolex as its first title partner.

The "Rolex SailGP Championship" will commence the 2025 season in Dubai on Saturday.

"SailGP is celebrating its fifth season with remarkable growth, which will accelerate its next phase of growth and establish it as the premier global championship in sailing, according to league CEO Russell Coutts."

Rolex has been named the title partner of the SailGP championship, with the partnership lasting for a decade, from 2019 to 2034. Additionally, Rolex will remain the official timepiece of SailGP.

A global championship known as SailGP features twelve national teams from countries such as the U.S., Italy, and Germany competing in identical high-tech, high-speed 50-foot foiling catamarans.

Boats compete for a $7 million grand prize while racing at speeds close to 60 miles per hour.

The sailing league, SailGP, was founded with a centralized business model with the aim of becoming privately owned within its first five years. In the upcoming season, 10 out of 12 teams will be privately owned, and future teams will be independently financed, the league announced to CNBC.

In the past year, some prominent Wall Street figures have supported the sport, including Larry Ellison, the co-founder and chairman of the league, and Marc Lasry, the chairman of Avenue Capital Group.

In 2023, the U.S. team was acquired by an investor group led by Lasry's Avenue Sports Fund for $35 million.

Major sponsors such as Red Bull, Emirates, Mubadala, Rockwool, and Deutsche Bank have attracted many teams as interest has grown.

In the past three years, sailing has surpassed other leagues, as stated by Lasry on CNBC's "Squawk Box" in May.

During the Spain Sail Grand Prix, the previous season's SailGP attracted its largest American TV audience, with 1.78 million viewers on CBS.

The league reports that viewership increased by 48% year over year to approximately 200 million viewers on average during its fourth season's 13 race events, which were broadcasted to 212 territories worldwide.

In its fifth season, SailGP will secure new broadcast agreements in Germany, Italy, Brazil, and Spain to increase its linear audience.

"Coutts stated that sailing has traditionally attracted affluent participants and spectators as a heritage sport in many markets. However, the sport is now targeting a new generation of racing fans through its digital content and social engagement figures, as well as its presence in new markets such as Italy and Brazil."