ESPN sells majority stake in its X Games franchise

ESPN has sold its majority stake in X Games to private equity firm MSP Sports Capital, although it is retaining a minority stake under the multi-year agreement.

ESPN founded X Games — the action sports franchise featuring skateboarding, snowboarding, BMX riders and freestyle motocross — in 1995.

MSP, which has investments in McLaren Racing Limited and four European soccer teams, will take over X Games’ buinsss operations and produce its events.

ESPN will continue to broadcast the games on U.S. television. ABC will also broadcast the next X Games, set for January 27-29, 2023 in Aspen, Colorado.

Ten-time X Games gold medalist Tony Hawk will join MSP to act as a “brand steward.”