SailGP names Abu Dhabi's Mubadala as title partner of grand final

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Jan 27 (Reuters) - SailGP has announced Abu Dhabi's Mubadala Investment Company as the title partner of the second season's grand final, tournament organisers said on Thursday.

SailGP's second season has featured eight teams participating in seven events so far, starting with the Bermuda Grand Prix in April 2021. The final race, the United States Grand Prix, is scheduled for March 26-27 in San Francisco.

Australia and the United States have already earned a place in the grand final. The grand prix in San Francisco will determine the third and final team on the starting line to vie for the $1 million prize.

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"SailGP and Mubadala share like-minded goals for a better future, so we are excited that they have joined as title partner for the Grand Final in San Francisco," said SailGP CEO Russell Coutts.

Season 2 was initially scheduled for 2020, but events were postponed due to the COVID-19 pandemic and the results from the opening race were declared null and void.

SailGP was set up in 2018 by Oracle founder Larry Ellison and America's Cup veteran Russell Coutts.

The championship has been billed as sailing's equivalent of Formula One and uses the F50 catamarans, which have hit speeds of 50 knots (93 kph).

(This story corrects to change 'races' to 'events' in second paragraph)

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Reporting by Manasi Pathak in Bengaluru

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