The FIM Supercross World Championship, a new motorcycle racing event, just received major financial backing.
On Tuesday, SX Global, the Australian-based company that will oversee the event’s promotion and development, announced it has a new investor in Mubadala Capital.
The goal, according to SX Global President Tony Cochrane, is to turn the series into a “leading global motorsport and entertainment property.”
- Over the next five years, teams and riders will receive a total of $50 million from Mubadala Capital.
- The Supercross World Championship will offer $250,000 per event in prize money — the most in supercross history.
The newly minted funds will help with both management and promotion efforts, “bringing the exciting sport of off-road motorcycle racing to fans across the globe in a new competitive format,” the announcement said.
With a total of 22 riders, the event will look to provide “an elevated experience for fans” both over broadcast and in person.
Another Sports Investment
Mubadala Capital is the asset management subsidiary of Mubadala Investment Company, a UAE sovereign wealth fund that boasts $243 billion in assets under management.
SX Global is hardly Mubadala’s first dip into the sports arena. It invested in Endeavor in 2014, which then bought the UFC and the Professional Bull Riders tour and, in 2019, was a part of the $3.5 billion sale of the YES Network.
