NEW YORK, June 24, 2024 – Leading international law firm Proskauer is pleased to share that it is advising X Games in the formation of its new league, the X Games League (“XGL”). Starting in 2026, XGL will introduce a new global, team-based format to the X Games, the leading action sports competition for the past 30 years. XGL will provide a year-round international competition calendar for X Games, enabling athletes to earn compensation beyond the $2.4 million already awarded through existing prize purses. The league is backed by MSP Sports Capital (MSP), a Najafi Cos. portfolio company.
Teams will be a vital component of the XGL, featuring athletes from multiple disciplines who will compete for individual and team points to earn both individual and team prize purses. MSP and X Games will secure investors for these new teams.
Both team investors and XGL athletes will have a platform from which to build and generate additional revenue streams through sponsorships and team-specific merchandise. In an industry first, XGL athletes will be provided with a level of stability that includes guaranteed compensation as well as new commercial opportunities.
X Games League will have both a Summer XGL and a Winter XGL – each initially composed of four global events and a minimum of four teams, with plans to grow. The competition schedules will include X Games signature events as well as strategic collaborations with existing competitions.
The Proskauer team advising X Games on XGL’s formation is being led by partner Rob Freeman (TMT, Sports); partner David Teigman (EBEC); partner Aaron Lee (Tax); Adam Lupion (Labor); Colin Kass (Antitrust); and associate Sean Wildes (Sports).
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