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Private equity firms Juggernaut Capital Partners and Fiume Capital have acquired action sports platform Thrill One Sports & Entertainment for $300 million, according to The Wall Street Journal.
The deal features investments from UFC president Dana White, television producer Craig Piligian, and the Dyrdek Machine — a venture creation studio backed by TV personality and former pro skateboarder Rob Dyrdek.
Financing will be provided by Prudential Private Capital.
- Thrill One will host more than 70 events with more than 100 hours of live sports in 2022.
- It has a portfolio that includes Nitro Circus, Nitro Rallycross, and Street League Skateboarding.
- The platform will also produce over 300 episodes of linear TV in 2022.
- It has more than 40 million followers across its social media channels.
Fiume and Juggernaut have already established a relationship through their co-ownership of 3Step Sports, a youth sports ecosystem that serves more than 3.2 million athletes in the U.S.
Investment in Motorsports
Thrill One has an opportunity to take advantage of the growing interest in motorsports.
The company is making investments in its Nitro Rallycross property, which features short, action-packed races on custom-built courses. The sport mounted its first U.S. tour in 2021, followed by a global tour for the 2022-23 season that began in June and runs through March 2023.
Thrill One has invested more than $3 million in developing Nitro Rallycross, sources told FOS.
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