The X Games concluded its final stand-alone event in Aspen, Colorado, unveiling a new franchise model set to redefine action sports. CEO Jeremy Bloom announced that the inaugural summer league will feature teams based in New York, Los Angeles, São Paulo, Brazil, and Tokyo, Japan. The plan is to establish a total of ten co-ed teams, each comprising ten athletes, to participate in both summer and winter sports. Bloom emphasized this shift, likening it to Formula 1, as it will allow the league to host events globally.
In a significant development, crypto-based payments provider MoonPay has signed a three-year partnership to become the name sponsor of the newly renamed MoonPay X Games League (XGL). The partnership, valued in the mid-eight figures, includes an option for MoonPay to acquire up to two franchises and a stake in the league. Bloom highlighted that this evolution marks a transformative chapter in action sports, moving beyond mere competitions to establish a structure encompassing teams, salaries, and benefits for athletes across a full competitive season.
An impressive pool of approximately 180 action-sports athletes has expressed interest in the league, with a draft scheduled for March 12 in Los Angeles. The summer league’s competitions will kick off on June 26 in Sacramento, California, featuring BMX and skateboarding events. This new league format drastically departs from the traditional X Games model, which ESPN initially launched in 1995 to cater to emerging sports during off-peak seasons for traditional sports.
Historically, the X Games have significantly elevated the profile of various action sports, propelling many of these disciplines into the Olympics and bringing attention to their athletes worldwide. The transition to a league structure is expected to provide greater visibility for athletes, enhancing marketing opportunities, healthcare, and overall benefits. Bloom paid tribute to the original format of the X Games, reflecting on its roots as a haven for “misfits” and “outcasts” in action sports, while acknowledging that the landscape has evolved dramatically over three decades.
Long-time athletes, including Tony Hawk and Chloe Kim, have shown support for this change, although Bloom recognized that some fans are resistant to corporate involvement. He reassured supporters that the essence of the sports remains intact, asserting that discussions around these changes are beneficial.
Franchise owners now have the flexibility to choose whether to invest in both the winter and summer sports circuits or to focus on just one. The general managers for the first four teams have also been named, including well-respected figures such as Bob Burnquist, Harumi Suzuki, Sharalee “Haze” Hazen, and Steve Rodriguez. Burnquist, a Brazilian-American and the most decorated athlete in X Games history, adds significant stature to the league.
The X Games majority owner, MSP Sports Capital, previously acquired a controlling stake from Disney-owned ESPN in 2022. ESPN retains a minority stake and continues as the U.S. broadcast partner. Bloom noted that MSP’s involvement in both action sports and Formula 1 underscores their strategic vision for the league.
MoonPay, with over 30 million customers across 180 countries, according to Bloom, is indicative of a burgeoning financial services partnership for the XGL. The integration of artificial intelligence into competition judging is also on the horizon, aimed at accurately capturing the increasingly complex tricks being executed by athletes. The allure of AI has attracted attention from major tech companies like Amazon and Alphabet’s Google, indicating a promising future for sponsorship opportunities within this evolving framework. Monster, the beverage company, has also been confirmed as a sponsor for the games.
