Spain is witnessing a major shift in the competitive sailing landscape as Quantum Pacific Group, owned by Israeli billionaire Idan Ofer, has acquired Los Gallos, a prominent team in the SailGP championship. This announcement signals a transformative period for the team, which was co-founded by American businessman Larry Ellison and renowned sailor Sir Russell Coutts in 2018. The SailGP series is often referred to as 'Formula 1 on water' due to its high-speed, close-to-shore racing format, which has been captivating audiences globally. Los Gallos, now led by Olympic gold medalist Diego Botin, showcased their prowess by winning the fourth edition of SailGP in 2024, marking a significant achievement in their competitive history. The team currently stands in fifth place in the 2026 standings following three of the season's 13 events. While the purchase price for Los Gallos has not been disclosed, experts speculate it could align closely with the $60 million transaction made by Doug DeVos for the Danish Rockwool Racing SailGP Team earlier this year. Idan Ofer's acquisition reflects not only his commitment to the sport but also his strategic interest in the Iberian market, as emphasized by Quantum Pacific Chief Executive Antoine Bonnier. The investment is viewed as an opportunity for significant returns, echoing Ofer's success with investments in various sports teams, including his stake in LaLiga's Atletico Madrid. Since this purchase, 12 of the 13 teams in SailGP have transitioned from the league's ownership to private investors, highlighting a robust demand for franchise opportunities within the championship. The managing director of SailGP, Andrew Thompson, welcomed the investment as a crucial milestone in expanding the championship and harnessing Spain's passion for sports through its dedicated fanbase and rich sporting culture. As the sailing competition progresses, the next event in the 2026 Rolex SailGP Championship is slated for Rio de Janeiro, taking place on April 11-12, 2026. The outcome of this ownership change and the ambitions of Quantum Pacific in shaping the future of Los Gallos will be closely monitored by stakeholders and fans alike. This move not only enhances the team’s competitiveness but also promises to elevate the profile of SailGP in the competitive sports arena overall.