A new global supercross series was announced Tuesday with backing from an Abu Dhabi-based wealth fund that manages $243 billion in assets.
Mubadala Capital made a $50 million investment in SX Global, an Australian company that in December landed the rights from the governing body for motorcycle racing to promote the FIM Supercross World Championship.
“Our commitment to SX Global and the FIM Supercross World Championship builds on our strategy and track record of selectively investing in premier content properties with strong global appeal,” said Adib Martin Mattar, head of private equity at Mubadala Capital.
“We expect that our investment in SX Global will introduce the exciting sport of professional supercross to a global audience and build lasting value by delivering an authentic, exciting and fan-centric experience.”
Supercross pits riders against one another on off-road motorcycles on dirt tracks built in football and baseball stadiums across the United States. The riders navigate jumps and obstacles over a 17-race schedule in AMA Supercross, which launched in 1974 and is presently operated by Feld Entertainment.
The top riders in the world are typically Americans, but there is not a global series for them. SX Global is set to launch what it is calling a “pilot” season of five events next season between September and November of 2022.
SX Global in 2023 expects to begin its season in June and complement the Monster Energy Supercross series. The U.S. series runs through May, although most top American riders then shift to the AMA National Outdoor season, so there could be conflicts for those hoping to also compete in SX Global.
SX Global will follow the charter model used by NASCAR and offer 10 team licenses to independent owners and the investment from Mubadala should help with startup costs for teams. The events will offer $250,000 in prize money and follow the established two-class format of 250-cc and 450-cc.
Tony Cochrane, president of SX Global, said the Mubadala investment will help the new series bring supercross to new regions “through the most exciting and lucrative World Championship series in the history of the sport.”
“There is a massive fanbase and untapped demand for supercross outside the United States. We intend to feed that," Cochrane said. "We have created an entirely new model for supercross – one that emphasizes expanded financial support and opportunities for riders and teams, expanded opportunities for sponsorship, and an elevated experience for fans.”
Mubadala Capital and its entities have an established record of owning or operating recognized sports, media, entertainment and premium content and services properties, including EMI Music Publishing, Endeavor Group Holdings, Reigning Champs, Ultimate Fighting Championship, and in 2019 was part of the $3.5 billion sale of the YES Network.
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