Lead Governor of the Boston Celtics Wyc Grousbeck is planning a new venture focused on extreme sports, reports Bloomberg’s Scott Soshnick.
Grousbeck, one of several governors comprising the Boston Basketball Partners — the Celtics ownership group — plans to work with a group of investors to organize the world’s largest extreme sports company.
With the intention of capitalizing on the growth of sports like BMX biking, and skateboarding among several others, Grousbeck’s Causeway Media Group will work with sports investors Raine Group and DraftKings to produce extreme sporting events and license their broadcast.
Early estimates of revenue from the venture are in the $100 million range, and with extreme sports increasingly gaining global respect — surfing, BMX and skateboarding will be official events at the 2020 Tokyo Olympic Games, for example — investors are bullish on potential returns.
Some big investors — the Raine Group, @Celtics owners Wyc Grousbeck & Mark Wan — are teaming up to create what they call the world's largest action-sports company, expected to generate more than $100 million this year, via @soshnick https://t.co/keBBp9dyc3 #SportsBiz
— Eben Novy-Williams (@novy_williams) January 16, 2020
The company will combine three already-extant organizations into one, aggregating SuperJacket Productions, which creates MTV’s “Ridiculousness,” Street League Skateboarding and Nitro Circus, an extreme sports touring troupe.
“Thrill One”, as the company will be known, plans to hold more than 30 events in 2020, in locations across Australia, China, the U.K. and U.S.
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