In a move that signals a transformative shift in the landscape of professional action sports, 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 firm, Pipedream Capital, represents a significant infusion of institutional capital into the newly established MoonPay X Games League (XGL). As the first team-based, year-round league of its kind, the XGL seeks to modernize the competitive framework of action sports by introducing a franchise model similar to that of the NFL, NBA, or Formula 1.
The transaction was facilitated by Moelis & Company LLC, which served as the exclusive financial advisor to X Games. This sale marks a pivotal milestone for the league as it prepares for its inaugural Summer Season, transitioning from a series of independent annual events into a structured, season-long narrative. By securing ownership for two of its most geographically significant clubs, the XGL is positioning itself to capitalize on the localized fanbases and the massive commercial infrastructure of Los Angeles and Park City—two regions synonymous with the culture of skateboarding, BMX, and winter sports.
The Strategic Shift to Franchise Ownership
The sale of XC Los Angeles and XC Park City reflects a broader strategy by X Games leadership to stabilize the financial ecosystem for athletes and stakeholders. Historically, action sports have relied on an individual prize-purse model, where athletes’ earnings were largely dependent on their performance at specific, disparate events throughout the calendar year. The MoonPay X Games League fundamentally alters this dynamic by introducing permanent clubs, multi-year athlete contracts, and team-based competition.
Jeremy Bloom, CEO of X Games and a former Olympic skier and NFL player, emphasized that the investment from Pipedream Capital validates the league’s long-term viability. "The investment in two X Games Clubs is a powerful validation of the vision we have for the future of action sports," Bloom stated. "We’re creating permanent teams, season-long storylines, stronger opportunities for athletes, and deeper connections with fans. Allen Thorpe immediately understood that opportunity, and we’re thrilled to welcome him to the X Games family."
For investors like Thorpe, the appeal lies in the intersection of sports, youth culture, and high-growth entertainment markets. Thorpe, a native Californian and a 20-year resident of Park City, brings a unique blend of local expertise and private equity discipline to the league. "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."
XC Los Angeles: A Flagship Summer Club
As the XGL prepares for its first Summer Season, XC Los Angeles stands as a cornerstone of the league’s commercial strategy. Los Angeles has long been the global epicenter of skateboarding and BMX culture, making it a natural home for a flagship franchise. Furthermore, with Los Angeles set to host the 2028 Summer Olympics, the city’s sports infrastructure and international visibility are expected to reach unprecedented heights.
The XC Los Angeles roster is designed to reflect the city’s status as a melting pot of talent. Under the leadership of General Manager Sharalee “Haze” Hazen, the club features a diverse 10-person roster of international athletes. Among the headliners is Olympic medalist Tom Schaar, whose career has bridged the gap between traditional X Games dominance and Olympic success. Joining him is 11-year-old Australian phenom Mia Kretzer, a selection that highlights the league’s focus on the next generation of athletes and the increasing professionalization of youth in action sports.
By establishing a permanent presence in Los Angeles, the XGL aims to create a year-round engagement model for fans. This includes local activations, team merchandise, and regional sponsorship deals that were previously difficult to maintain under the old event-based format.
XC Park City: Anchoring the Winter Season
While the immediate focus of the XGL is the upcoming summer circuit, the sale of XC Park City ensures the league’s winter operations are equally robust. Park City, Utah, is globally recognized as a premier destination for skiing and snowboarding and is designated as a future host region for the 2034 Winter Olympics.
The XC Park City Winter Club will officially anchor the XGL Winter Season beginning in 2027. The decision to secure a winter franchise owner years in advance of the first winter season demonstrates the long-term planning inherent in the XGL model. Thorpe’s deep ties to the Park City community are expected to play a crucial role in building the club’s local identity and securing training facilities that will serve as the team’s home base.
The winter expansion is a critical component of the XGL’s "year-round" promise. By balancing four summer clubs and four winter clubs, the league ensures continuous content for broadcast partners and a persistent presence in the sports media cycle, avoiding the "off-season" lulls that have historically affected action sports coverage.
Chronology of the MoonPay X Games League Launch
The development of the XGL has followed a meticulous timeline designed to build momentum and secure financial backing before the first competition.
- Early 2024: X Games leadership begins exploring a franchise-based model to address athlete compensation concerns and inconsistent viewership patterns.
- Late 2025: The partnership with MoonPay is announced, providing the technological and financial backbone for the league, including the integration of digital fan engagement tools.
- Spring 2026: The league structure is finalized, establishing eight co-ed clubs (four summer, four winter).
- June 11, 2026: The sale of XC Los Angeles and XC Park City to Allen Thorpe is finalized.
- June 26, 2026: The inaugural XGL Summer Season is scheduled to begin in Sacramento, California.
- July 2026: The season continues with an international stop in Chiba, Japan, before concluding with the XGL Championship in New Orleans.
- Winter 2027: The inaugural Winter Season is slated to debut, featuring XC Park City.
Financial Implications and Athlete Compensation
One of the most significant impacts of the XGL is the restructuring of athlete economics. Under the new league format, athletes are no longer solely dependent on winning events to earn a living. The introduction of team ownership means that athletes are signed to contracts with guaranteed salaries, health benefits, and performance bonuses.
This shift is intended to provide a "safety net" that encourages athletes to push the boundaries of their sports without the immediate fear of financial ruin due to injury or a single poor performance. Furthermore, the league’s team model allows for shared revenue streams, including jersey sponsorships and localized media rights, which are expected to increase the total pool of compensation available to participants.
The involvement of MoonPay also suggests a focus on modernizing fan monetization. Through digital collectibles, loyalty programs, and blockchain-verified fan experiences, the XGL is looking to diversify its revenue beyond traditional ticket sales and broadcast rights.
Market Analysis and Broader Impact
The sale of these franchises comes at a time when the sports investment market is increasingly looking toward "alternative" and "lifestyle" sports. As traditional major leagues see skyrocketing valuations that price out all but the wealthiest investors, emerging leagues like the XGL offer a high-growth entry point.
Industry analysts suggest that the XGL’s co-ed, team-based format aligns with current consumer trends that favor gender equity and "personality-driven" sports content. By creating permanent teams, the XGL is betting that fans will develop the same level of tribal loyalty to "XC Los Angeles" that they currently feel for the Dodgers or the Lakers.
Moreover, the geographic focus on Olympic host cities is a calculated move to leverage government investment in sports infrastructure. The synergy between the XGL and the upcoming 2028 and 2034 Olympics provides a built-in marketing engine that will likely keep these sports in the public consciousness for the next decade.
Future Outlook for the X Games League
With the Los Angeles and Park City sales complete, the X Games organization is expected to announce the ownership groups for the remaining six clubs in the coming months. These announcements will be critical in determining the league’s global footprint, with rumors circulating about potential franchises in Europe and Australia.
As the June 26 kickoff in Sacramento approaches, the focus will shift from the boardroom to the field of play. The success of the XGL will ultimately depend on whether the team-based format can capture the "lightning in a bottle" energy that has defined the X Games for over three decades. With institutional backing from Pipedream Capital and a roster of world-class athletes, the league has the foundational elements necessary to redefine professional action sports for the modern era.
The XGL represents a fundamental shift in how action sports are consumed, marketed, and played. By moving away from the "circus" model of touring events and toward a "league" model of rooted franchises, X Games is attempting to build a sustainable, professionalized future for athletes who have long operated on the fringes of the traditional sports world. The acquisition of XC Los Angeles and XC Park City by Allen Thorpe is the first major step in proving that this new model is not just a vision, but a viable commercial reality.
