ESPN sold its majority stake in the X and Winter X Games to MSP Sports Capital, a sports-focused private equity firm that has stakes in McLaren Racing and some European soccer teams. Terms were not disclosed.
The company said that as part of the multiyear agreement, MSP Sports Capital would assume day-to-day operations and produce X Games events and shows. ESPN will retain a minority interest and continue to air the X Games on television in the U.S.
“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 ESPN Chairman Jimmy Pitarot. “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.”
Skateboard icon Tony Hawk, a ten-time X Games gold medalist who landed the sport’s first 900 at the 1999 X Games in San Francisco and later worked as a commentator on X Games broadcasts, has joined the investment group as a brand steward.
MSP said Steven Flisler would be the new chief executive of X Games. Flisler recently was the vice president of original content for Twitch, the Amazon-owned streaming service aimed at gamers. He also worked as the executive producer of Twitch Rivals, a live gaming competition presented on the service.
“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 MSP Sports Capital Founder and CEO Jeff Moorad.
Photo courtesy X Games Aspen 2023
