Ex-NBA Star Baron Davis Invests In Sailboat Racing League, 'Formula 1 On Water!'

Baron's getting into boating!!!

Ex-NBA star Baron Davis has officially invested in a new team in the sailboat racing league SailGP ... and he's fired up over it all, telling TMZ Sports the action is like "Formula 1 on water."

Davis' new squad promises to be unique -- it'll actually be one he'll share with a bunch of other fans, who can buy into the franchise just like the former Golden State Warriors point guard.

According to SailGP, Davis -- along with the other fans who invest -- will have a say in the team's day-to-day operations, hirings and firings ... and even what the team's name will be.

The new squad will debut in 2024 -- and when we got Davis out in Beverly Hills earlier this month ... it wasn't hard to see he's stoked for it, telling us he actually knew he wanted to get into it all after watching a race in St. Tropez last year.

"For me," the 44-year-old said, "it was just like, I was fascinated by it. I got a chance to, like, follow the boats. So it was a cool experience."

In addition, Davis said he sees an opportunity for big growth in the league.