ESPN Productions has unloaded a majority stake in X Games to MSP Sports Capital, a private equity firm whose expanding sports investments include McLaren Racing and soccer.
ESPN will retain a non-controlling position in X Games, which it founded in 1995, and serve as the domestic linear broadcast partner as part of a multi-year agreement finalized in conjunction with the transaction. MSP will assume day-to-day operational control of the X Games business with former Twitch and NBCU executive Steven Flisler as CEO.
Legendary skateboarder Tony Hawk will join the X Games’ investor group as a brand steward.
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Flsisler most recently served as VP of Original Content at Twitch and Executive Producer of Twitch Rivals He previously held various leadership positions across NBCUniversal where he produced global live productions and special events.
MSP Sports Capital, founded by Jahm Najafi of The Najafi Companies, and Jeff Mororad, will prioritize technology investments “to launch the brand into the future,” boosting appeal to a digitally native audience seeking expanded access to athletes and community-driven content.
X Games pioneered action sports entertainment with its global, televised high-stakes competitions. The brand offers premier athletes a platform to showcase talents across disciplines such as skiing, snowboarding, Moto X, BMX freestyle and skateboarding.
“We’re proud of what we’ve created with our employees and the athletes over nearly 30 years of world-class X Games events and content,” said Jimmy Pitaro, chairman, ESPN and Sports Content. “We now look forward to an exciting next chapter with MSP Sports Capital, which has a proven track record of excellence in sports and a dynamic vision for the continued growth and progression of the industry-leading action sports brand.”
X Games will host X Games Aspen 2023 live from Aspen, Colorado, in Jan. Fans will continue to be able to view their favorite action sports competitions on ESPN and ABC in the U.S.
“We are bringing our deep-rooted sports expertise to continue the progression and excitement around athletes, competition, fans, and X Games partners,” said Jahm Najafi, founder-chairman, MSP Sports Capital, and founder-CEO, The Najafi Companies.
“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-CEO, MSP Sports Capital.
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