In a move that signals a transformative shift for the action sports landscape, X Games officially announced on June 11, 2026, the sale of two of its premier franchises, XC Los Angeles and XC Park City, to veteran private equity investor Allen Thorpe. The acquisition, executed through Thorpe’s investment vehicle, Pipedream Capital, represents a critical cornerstone in the development of the MoonPay X Games League (XGL). As the first team-based professional framework in the history of action sports, the XGL is poised to redefine how skateboarding, BMX, and snow sports are consumed by a global audience. The transaction was facilitated by Moelis & Co LLC, which acted as the exclusive financial advisor to X Games, underscoring the institutional financial interest now flowing into the sector.
The sale comes at a pivotal moment for X Games, which has spent the last several years transitioning from a biannual event-based property into a year-round league structure. By establishing permanent clubs with localized identities, X Games aims to replicate the commercial success and fan loyalty seen in traditional sports leagues like the NBA or Formula 1. The inclusion of Pipedream Capital brings not only capital but also significant strategic expertise, as Thorpe carries a decades-long track record in high-stakes private equity and a personal connection to the markets he is now entering as an owner.
Strategic Investment and the Pipedream Capital Acquisition
The acquisition of XC Los Angeles and XC Park City by Allen Thorpe is more than a simple transfer of assets; it is a validation of the "Club" model that X Games CEO Jeremy Bloom has championed since taking the helm. Bloom, a former Olympic skier and NFL player, has long advocated for a structure that provides athletes with greater stability and fans with more consistent narratives.
"The investment in two X Games Clubs is a powerful validation of the vision we have for the future of action sports," Bloom stated during the announcement. "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."
Allen Thorpe’s entry into the XGL is particularly noteworthy given his professional background. As an accomplished investor, Thorpe’s decision to purchase two clubs simultaneously suggests a high level of confidence in the league’s scalability. Thorpe, a native Californian and a resident of Park City for over 20 years, possesses an intimate understanding of the cultural and economic engines of both regions.
"X Games has an incredible brand at the intersection of sport, culture, entertainment, and youth engagement," Thorpe remarked. "The MoonPay X Games League creates an entirely new category of sports ownership. I’m especially excited to build championship organizations in both Los Angeles and Park City."
XC Los Angeles: A Flagship in the Epicenter of Action Sports
XC Los Angeles is positioned to be one of the flagship franchises of the XGL Summer Season. Los Angeles is widely regarded as the spiritual and commercial birthplace of modern skateboarding and BMX culture. The city’s influence on the industry is unparalleled, providing a built-in fan base and a deep pool of local talent.
The club is led by General Manager Sharalee “Haze” Hazen, a respected figure in the action sports community known for her talent scouting and brand-building capabilities. Under her leadership, XC Los Angeles has assembled a diverse 10-person roster that blends veteran experience with explosive youth talent. Highlighting the roster is Tom Schaar, an Olympic medalist and a pioneer in transition skateboarding, known for being the first to land a 1080. Joining him is 11-year-old Australian sensation Mia Kretzer, whose inclusion highlights the league’s commitment to showcasing the next generation of global stars.
The timing of the XC Los Angeles launch is also strategically aligned with the broader sports calendar. With Los Angeles set to host the 2028 Summer Olympics, the city is currently undergoing a massive surge in sports infrastructure investment and public interest. XC Los Angeles is expected to leverage this momentum, positioning itself as a central pillar of the city’s pre-Olympic sports narrative.
XC Park City: Anchoring the Winter Expansion
While the focus for June 2026 is on the Summer Season, the acquisition of XC Park City secures a vital territory for the XGL’s winter operations. Park City, Utah, is a global hub for winter sports, home to world-class training facilities and a community deeply rooted in skiing and snowboarding culture.
XC Park City will officially begin its competitive journey with the XGL Winter Season in 2027. The region’s importance to the global winter sports stage was recently reinforced by its selection as a primary host region for the 2034 Winter Olympics. By establishing a permanent club in Park City now, Thorpe and the XGL are securing a "first-mover" advantage in a market that will be the focus of the winter sports world for the next decade. The club is expected to serve as a year-round training and community hub, bridging the gap between elite professional competition and grassroots development.
The MoonPay X Games League: A New Economic Frontier
The MoonPay X Games League represents a fundamental shift in the economics of action sports. Historically, athletes in these disciplines relied on a volatile mix of individual prize purses and personal sponsorships. The XGL introduces a structured model featuring:
- Permanent Clubs: Eight inaugural clubs (four Summer, four Winter) with geographic ties.
- Athlete Contracts: For the first time, many athletes will have the security of season-long contracts and team-provided benefits.
- Co-ed Rosters: The league emphasizes gender equity, featuring co-ed teams that compete in a unified format.
- Fan Engagement: Through its partnership with MoonPay, the league is integrating Web3 technology to offer digital collectibles, exclusive fan access, and innovative loyalty programs.
The inaugural Summer Season is scheduled to kick off on June 26, 2026, in Sacramento, California. From there, the league will travel to Chiba, Japan, for its international leg before concluding with the XGL Championship in New Orleans in July. This "touring league" format combines the excitement of a traveling festival with the stakes of a professional points-based season.
Chronology of the XGL Evolution
The road to the June 11 announcement has been several years in the making. The following timeline outlines the key milestones that led to the formation of the XGL:
- October 2022: MSP Sports Capital acquires a majority interest in X Games from ESPN/Disney, signaling a shift toward independent, growth-oriented management.
- January 2024: Jeremy Bloom is appointed CEO, bringing a vision for a league-based structure.
- Early 2026: X Games announces the formation of the MoonPay X Games League, securing a title sponsorship with the fintech giant.
- April 2026: The first batch of club rosters and General Managers are revealed to the public.
- June 11, 2026: Allen Thorpe and Pipedream Capital are announced as the owners of the Los Angeles and Park City franchises.
- June 26, 2026: The inaugural XGL Summer Season officially commences in Sacramento.
Industry Impact and Broader Implications
The sale of these franchises to a private equity veteran like Allen Thorpe suggests that action sports are entering a "maturation phase." Traditionally viewed as niche or "alternative" entertainment, the move toward a league and franchise model places X Games in direct competition with more established professional sports for media rights, corporate sponsorships, and ticket sales.
Financial analysts suggest that the "geographic identity" of the clubs is a masterstroke for localizing a brand that has historically been seen as a global but nomadic event. By rooting teams in cities like Los Angeles and Park City, the XGL can tap into regional pride, local government support, and localized media markets.
Furthermore, the league’s focus on athlete compensation beyond prize money addresses a long-standing criticism of the action sports industry. By providing a platform for consistent visibility and salary-based income, the XGL is likely to extend the career lifespans of elite athletes, who previously faced significant financial pressure to retire early due to the "all-or-nothing" nature of tournament-style competition.
As the XGL prepares for its Sacramento debut, the eyes of the sporting world will be on how these new "super-teams" perform. With more club ownership announcements expected in the coming months, the X Games is no longer just an annual event—it is a year-round enterprise that has successfully invited the world of high finance into the halfpipe. For fans, this means more frequent competitions, deeper storylines, and a professionalized experience that preserves the "core" spirit of action sports while embracing the future of sports business.
