MSP Sports Capital and ESPN have come to an agreement that will see the network sell its majority stake in the X Games.
ESPN Productions will continue to hold a minority stake in the company, and ESPN will continue to hold the broadcast rights for the event.
The new X Games property will be led by former Twitch Vice President of Original Content Steve Flisler. He also served as the Executive Producer of Twitch Rivals. X Games legend Tony Hawk has joined the organization in an advisory role. In addition, around a dozen ESPN employees will move to the new X Games company.
It was reported in January of last year that ESPN was considering shopping the event to potential bidders. At that time, the reported asking price was $50 million. In January of this year, it was reported MSP Sports Capital was the leader to acquire the event, but apparent legal details pushed finalization back until now.
Flisler wants to expand coverage of the X Games, and believes action sports athletes and fans are interested in more content.
“The more they can entertain their audiences, the more we can grow things together,” said Flisler in an interview with Sports Business Journal. “Historically, 20 years ago, where you watched skateboarding was at the skatepark or you watched the X Games. Now you can watch at a moment’s notice, and the hype can reach you through all kinds of social media outlets.”
MSP Sports Capital is led by Jahm Najafi and Jeff Moorad. The company currently holds a stake in McLaren Racing, as well as four soccer clubs around Europe.
Financial terms of the deal were not disclosed.
FOX Will Use Chris Fallica On Belmont Stakes Coverage
“While the Preakness and the Kentucky Derby remain at NBC, The Belmont Stakes is moving to FOX as part of the network’s deal with the New York Racing Association.”
The Bear will be more than just a college football presence when he moves to FOX. Chris Fallica wrapped his final duties for ESPN last week and is now headed to a new network and will tackle some new responsibilities.
Fallica’s new role at FOX will involve plenty of sports gambling content. Richard Deitsch of The Athletic reports that content will include horse racing.
“One Fox Sports source said look for him to appear on the Belmont Stakes coverage,” Deitsch wrote in his weekly media column.
Starting in 2023, horse racing’s Triple Crown will not be seen all in one place. While the Preakness and the Kentucky Derby remain at NBC, The Belmont Stakes is moving to FOX as part of the network’s deal with the New York Racing Association.
How the network intends to use Chris Fallica on the broadcast is not clear. Given that he is coming to the network to contribute to gambling conversations, it is likely he would either be making picks or at least reviewing odds right up to the start of the race.
NBCUniversal CEO Expects Disney To Buy Company’s Hulu Stake
“Shell noted that live sports coverage is helping make the stake in Hulu a luxury for NBCUniversal.”
The Walt Disney Company owns 67% of Hulu. The other 33% is owned by NBCUniversal. The latter company doesn’t expect that to be the case forever.
“It’s worth a lot of money,” NBCUniversal CEO Jeff Shell said at an investor conference earlier this week, “and I think there’s no indication that anything else is going to happen than Disney writing us a big check.”
Hulu is primarily a platform for movies and television shows. It is a major part of Disney’s deal with the NHL though. The streaming giant is part of the package of 103 games that are exclusive to ESPN and ABC. Hulu is also a live TV provider for many. The company’s Hulu Plus Live TV package had over 4 million subscribers as of the summer of 2022.
Shell noted that live sports coverage is helping make the stake in Hulu a luxury for NBCUniversal. He credits sports and content migrated from Hulu as the reason Peacock has grown to 18 million paid subscriptions since September.
Deadline reports that if Disney does want to acquire NBCUniversal’s stake in Hulu, “the price could fluctuate but will be in the tens of billions of dollars.”
Greg Olsen Believes He and Kevin Burkhardt Can Handle Games ‘On Any Stage’
“Obviously, the bosses get paid a lot to make hard decisions. You have to obviously do what your bosses decide. We’ll cross that bridge when we get there.”
“If you’re asking me, I think Kevin and I have shown that we can handle a game on any stage – on any day. We just did it on Thanksgiving. We’ll do it again around Christmas. And obviously throughout the [NFL] Playoffs,” said Olsen. “So whatever decision they make. Obviously, the bosses get paid a lot to make hard decisions. You have to obviously do what your bosses decide. We’ll cross that bridge when we get there.
“But as of now, I anticipate Kevin and I, the two of us, with Erin and Tom down on the sidelines, the four of us, broadcasting the Super Bowl in February in Arizona. Until I’m told otherwise, that’s how we’re proceeding.”
Olsen also told FOS he has negotiated a new contract with FOX Sports, but declined to share details. He is slated to be replaced on the top broadcast crew once Tom Brady ends his playing career. Brady will then begin a 10-year, $375 million contract to serve as the network’s top NFL game analyst and brand ambassador.