- The acquisition is MSP Sports Capital’s sixth investment
- Legendary athlete Tony Hawk will also join the X Games investor group
- MSP Sports Capital invests in the sports ecosystem
MSP Sports Capital has acquired a majority stake in X Games brand from ESPN. No financial terms were disclosed.
ESPN will retain a minority stake in X Games while MSP will assume day-to-day operational control of the X Games business.
The acquisition is MSP Sports Capital’s sixth investment.
“MSP Sports Capital is excited about the future of X Games and being the new stewards of such an important part of sports history and its reimagined future,” said Jeff Moorad, founder and CEO of MSP Sports Capital, in a statement.
MSP Sports Capital’s investment will continue to invigorate X Games events and increase appeal to a digitally native audience seeking expanded access to athletes and community-driven content.
X Games will host X Games Aspen 2023 live from Aspen, Colorado, from January 27-29.
Legendary athlete Tony Hawk will also join the X Games investor group as a brand steward to help bridge the X Games legacy to the future.
MSP Sports Capital invests in the sports ecosystem. It is headquartered in New York City.