Sir Ben Ainslie discusses transitioning from Olympic sailing to leading the British SailGP team and the commercialization of sailing. The podcast explores the evolution of competitive boat racing, the intersection of sports, business, and sustainability, and the impact of sailing technology on global shipping efficiency.
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Quick takeaways
SailGP races are shorter, faster, and more visually appealing, attracting a wide audience.
Running a team in SailGP involves high costs but benefits from shared services, focusing on performance.
Deep dives
Evolution of Sailing with Foiling Boats
Sailing has evolved drastically over the past decade with foiling boats, enabling higher speeds and more exciting races. Unlike traditional sailboat races, which were long and less visually engaging, races in the SIRGP league now happen on shorter courses, lasting around 10 to 12 minutes. With boats reaching speeds close to 100 kilometers per hour, the races are intense, close-quartered, and visually captivating for viewers of all levels, including non-sailors.
Business Dynamics and Cost Management in SailGP
Running a team in the SailGP league involves significant financial considerations, with team costs escalating up to $35 million due to increasing competition and demand. However, the league's shared services approach helps reduce individual team costs by providing standardized equipment and support services. Despite the uniform boats, success in the league hinges on the skills and strategies of the sailing teams, emphasizing the importance of performance on the water.
Sustainability and Business Integration
The SailGP league emphasizes sustainability and efficiency through initiatives like the Impact League, promoting competition among teams to showcase innovative sustainable practices. By partnering with companies like Emirates, the league aims to enhance sustainability in various industries, including aviation. The league's commitment to mitigating carbon output extends to its own operations, adopting efficient practices like remote umpiring and developing wind wing technology for commercial ships to reduce fuel consumption and environmental impact.
Sir Ben Ainslie is the most decorated Olympic sailor of all time, winning medals at five consecutive Olympic Games.
Since then, he's been sailing in the America’s Cup and more recently in the new SailGP league.
Now, he's stepping back from some of his sailing responsibilities to concentrate on being a CEO.
For this episode of Business Daily, Sam Fenwick talks to Sir Ben about what it takes to run a sailing team, how to monetise the sport, and where he sees its future.
(Picture: Sir Ben Ainsley. Credit: Emirates GBR)
Presenter: Sam Fenwick
Producer: Hannah Mullane
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