X Games, the iconic action sports property, has sold the rights to a pair of franchises in its new X Games League (XGL) team concept for an ‘eight-figure fee’ to private equity investor Allen Thorpe.
Thorpe has acquired the rights to the US-based Los Angeles (California) and Park City (Utah) franchises.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The US businessman departed private equity firm Hellman & Friedman LLC (H&F) in December 2025, a firm he joined in January 1999, having served on its investment committee during his time at the business.
During his stint at the firm, H&F invested in motor racing’s elite Formula 1 (investing and divesting within 2000), German media enterprise ProSiebensat.1 (from 2003 to 2007), among others.
Los Angeles is one of four inaugural franchises, each encompassing a summer and winter team, that will debut with the inaugural XGL event on June 26 in Sacramento, California.
The Park City summer and winter teams will join the XGL in the 2027 winter season.
Speaking on the deal, X Games chief executive Jeremy Bloom said: “We’re creating permanent teams, season-long storylines, stronger opportunities for athletes, and deeper connections with fans. Allen immediately understood that opportunity, and we’re thrilled to welcome him to the X Games family.”
Thorpe added: “X Games has an incredible brand at the intersection of sport, culture, entertainment, and youth engagement.
“The X Games League creates an entirely new category of sports ownership. As a native Californian and 20-year Park City resident, I’m especially excited to build championship organizations in both Los Angeles and Park City.”
In May, X Games sold its first franchises, with sports investment firm UNA Sports Group (USG) acquiring the New York City summer and winter teams in what was also “an eight-figure transaction.”
Further franchises in Sao Paulo (Brazil) and Tokyo (Japan) are still up for sale, as are prospective future entrants.
The aforementioned Sacramento stop is the first on the inaugural XGL Summer season, which will run from June 26 to 28, before the series heads to Chiba, Japan, for its second summer event from July 4 to 5.
The summer season will end with the championship at the Caesars Superdome in New Orleans from July 24 to 26, with the team with the highest cumulative score across the season winning the title and being awarded a $500,000 team prize.
Aspen Snowmass, a ski resort in the US state of Colorado, this week secured a new three-year hosting rights agreement, ensuring that it remains a “crown jewel” on the series’ annual calendar.
In January, X Games secured cryptocurrency exchange platform MoonPay as the title sponsor for the league under a three-year deal, with the league renamed MoonPay X Games.
The three-year partnership, which comes with category exclusivity for MoonPay across cryptocurrency, banking, and finance, will include a ‘pass-through model’ that will allow MoonPay’s other partner brands the ability to capitalize on the deal with their own sponsorship inventory for the event series.
That means that MoonPay will enable its roster of partners to activate around the XGL series, with the stated aim of entrenching the cryptocurrency ecosystem in the competition.
Other X Games partners include fast-food chain Sonic, alcohol brands Beatbox Beverages, 805 Beer, and Cerveza Pacifico Clara, transport company Rivian, soft drinks brand Jarritos, toy company Tech Deck, headphone manufacturer Skullcandy, video gaming heavyweight Activision, and the US Army.
Monster Energy, a long-term supporter of the X Games, became the first founding partner of the XGL series in 2025.
Most recently, X Games confirmed betting firm Stake as the exclusive online casino and sports betting partner of the XGL, which will be exclusively livestreamed on Stake’s Kick streaming platform.
