American Magic is expanding — a move city leaders see as another step toward remaking the waterfront into a hub for specialized maritime work rather than a traditional cargo port.
Doug DeVos, a co-founder of American Magic, the U.S. racing syndicate that has competed in the America’s Cup, has acquired the Danish ROCKWOOL Racing SailGP Team in what organizers described as a $60 million transaction.
SailGP is a global league that races identical 50-foot foiling catamarans — boats that rise above the water on hydrofoils and can top 60 mph. The circuit has been drawing new owners and investors as it expands…