FIM Supercross World Championship | Initial Plans & Funding Announced
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The rollout of the FIM Supercross World Championship continued today with statements by SX Global that outlined the group’s plan to launch a five-race international series and announced the financial partner that has pledged more than $50 million to be designated specifically for team and rider support over five years.
SX Global’s race program description is consistent with what Adam Bailey, SX Global’s Managing Director, shared with us in December: WSX/450cc and SX2/250cc structure with 22 riders in the gate per class, $250,000 total purse at each event, 10 team licenses that will guarantee logistics-transportation as well as and seed funding, appearance fees, a high-energy atmosphere that appeals to live crowds, and a platform that will broadcast the action to the masses.
Teams must meet certain requirements to receive a competition license and funding. The rosters must be four riders, with two lining up in the WSX division and two in SX2 division. Each race will permit two wild card entries.
Scheduling for the series has been a major topic in the paddock lately, and SX Global stated that for 2022 they will hold five races from September through November of 2022. This keeps them clear of any overlap from the Monster Energy Supercross Championship run by Feld and the AMA, the Lucas Oil Pro Motocross Championship put on by MX Sports and the AMA, and the Monster Energy FIM Motocross Championship organized by InFront and the FIM.
However, that will change with the expansion efforts intended to begin in 2023, as the series aims to stretch from June to November with races around the world.
The second announcement regarded the investment by Mubadala Capital that will help finance the series, develop the business model with partners around the world, and promote the events and related productions. Mubadala Capital is the asset management subsidiary of the Mubadala Investment Company, a sovereign wealth fund based in Abu Dhabi that has stakes in all aspects business, including Culligan Water, Endeavor media management company, Waymo self-driving technologies, Yankees Entertainment & Sports Network broadcasting, and the international energy sector. Mubadala Capital’s portfolio includes $243 billion in assets under management.
The SX Global Board of Directors will include personnel from both SX Global and Mubadala Capital, including Matt Kim, Russ Pillar, Tony Cochrane, Adam Bailey, Ryan Sanderson, Tom Potter, and Tavo Hellmund.
SX Global, the Australian company that recently earned the exclusive rights to manage and promote the FIM Supercross World Championship, today unveiled plans for the comprehensive global championship series. Featuring an independent team-ownership model, unprecedented financial support for teams and riders, expanded opportunities for global and local sponsors and innovations to elevate the broadcast and in-stadium experience; the FIM Supercross World Championship represent the most progressive and ambitious platform to elevate the sport and expand its appeal across the world.
The series will feature a highly exclusive structure, with only 10 team licenses available to independent owners, and an unparalleled level of financial support for teams, including seed funding for every team entering the series, appearance fees at every event, and logistics and freight support throughout the series. In total, more than $50 million has been designated specifically for team and rider support over five years. In addition, the independent ownership model opens the door for significant sponsorship opportunities on global and local-event levels.
The global series will feature the richest prize purses in the sport’s history, with a total of $250,000 up for grabs at each event. The FIM Supercross World Championship will follow the established two-class format, with each team fielding four riders – two in the WSX (450cc) class, and two in the SX2 (250cc) class. Furthermore, every event will allow for two wild card entries in each class, providing opportunities for local riders and sponsor-driven exemptions and round out the 22-rider field. SX Global also plans to deliver an elevated experience for fans, through unique race formats, broadcast innovations, and in-stadium attractions that elevate the overall entertainment experience.
Plans for the global Championship series were underscored today by the news of Mubadala Capital’s investment in SX Global, bringing an unprecedented level of financial support and development resources on behalf of the FIM Supercross World Championship. Mubadala Capital, the asset management arm of Mubadala Investment Company, a sovereign investor with $243 billion in assets under management, brings a wealth of experience in funding the development of global business and sports ventures.
“There is a massive fanbase and untapped demand for supercross outside the United States and backed by the financial support and significant resource of Mubadala Capital, we intend to feed that, bringing the sport to new regions through the most exciting and lucrative World Championship series in the history of the sport,” said Tony Cochrane, President of SX Global. “We have created an entirely new model for supercross – one that emphasizes expanded financial support and opportunities for riders and teams, expanded opportunities for sponsorship and an elevated experience for fans.”
The FIM Supercross World Championship will annually take place in the second half of the year, ensuring a complimentary relationship to the Monster Energy Supercross Series in America. With plans for five events from September through November, 2022 will serve as a “pilot” season, allowing the series to establish itself and build momentum. 2023, and subsequent years, will see the series expand annually between June and November.
While the supercross series in the United States has firmly established itself as the preeminent platform for the sport, there has yet to be a definitive global series to lay claim to a true FIM-sanctioned World Championship. Highly successful events are held throughout Europe and Australia every year, normally around September–December. However, these events are not currently linked by any official FIM ‘championship’ status, and this remains a significant untapped opportunity for the sport’s ongoing credibility and evolution, as well as a significant opportunity for riders and teams to expand their influence and financial prospects.
“Over the years, there have been various attempts to build a true World Championship series for supercross, but none of them have succeeded, due to deficiencies in funding and resource, lack of global and regional relationships and a variety of other factors,” said Adam Bailey, Managing Director, Motorsport, for SX Global. “Our team possess the necessary supercross and international event background, relationships and expertise, and the funding to make this World Championship a reality.”
SX Global brings a team of highly qualified motorsports and entertainment executives, armed with the experience to successfully deliver a series of this magnitude. SX Global President, Tony Cochrane, spearheaded the development and success of V8 Supercars, an Australian-based auto racing series that became one of Australia’s most successful motorsports, eventually expanding with events in Shanghai, the United States, Bahrain, Abu Dhabi and New Zealand. In addition, proven supercross event veterans Adam Bailey and Ryan Sanderson have been the driving force behind Australia’s highest-profile supercross offering, the AUS-X open. The duo has promoted five years of consecutive sold out AUS-X Open events in Sydney (2015-2018) and Melbourne (2019), along with successful events in Auckland, New Zealand in 2018 and 2019.
“Our entire careers have been driven by a passion for motorsport and entertainment, and our motivations are as pure as they come – to continue to evolve and elevate our sport and its incredible athletes to new levels of global relevance and success,” said Ryan Sanderson, Managing Director, Commercial, for SX Global “Our aim is to take the amazing sport of supercross global and reveal its greatness to millions of new fans all over the world.”
About SX Global: Based in Queensland, Australia, SX Global is a collective of world class sports marketing and entertainment experts who operate globally within the motorsports and entertainment industries. Considered the “founding father” of the modern era of Australian motor racing, Tony Cochrane leads the SX Global team as president, bringing more than 45 years of experience in developing and managing successful motorsports series and events. Managing Directors, Adam Bailey, a former competitive rider, and Ryan Sanderson, bring extensive proven experience in supercross event development, management and promotion after five years of successfully delivering the largest action sports and supercross event in the Southern Hemisphere, the AUS-X Open.
Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, one of the world’s leading sovereign investors with US$243 billion of assets under management, today announced its investment in SX Global, an Australian company established to develop, promote, and commercialize the FIM Supercross World Championship.
Mubadala Capital has established a track record of successfully investing in category leaders across sports, media, and entertainment—including EMI Music Publishing, Endeavor Group Holdings, Reigning Champs, Ultimate Fighting Championship (UFC) and the Yankees Entertainment and Sports Network (YES Network), among others—and this investment continues its history of backing world-class management teams in building differentiated global sports, media and entertainment businesses.
Mubadala Capital’s investment will support SX Global’s expansion plans for supercross and its efforts to capitalize on the exclusive rights it has secured from the Fédération Internationale de Motocyclisme (FIM) to manage and promote the new FIM Supercross World Championship, bringing the exciting sport of off-road motorbike racing to fans across the globe in a new competitive format.
“Our commitment to SX Global and the FIM Supercross World Championship builds on our strategy and track record of selectively investing in premier content properties with strong global appeal,” said Adib Martin Mattar, Head of Private Equity at Mubadala Capital. “We expect that our investment in SX Global will introduce the exciting sport of professional supercross to a global audience and build lasting value by delivering an authentic, exciting and fan-centric experience.”
SX Global’s President, Tony Cochrane, added, “We’re proud to partner with Mubadala Capital, a company that shares our vision and global aspirations for the FIM Supercross World Championship. With the international reach, resources, and business building experience of Mubadala Capital alongside us, we’re looking forward to establishing FIM Supercross World Championship as a leading global motorsport and entertainment property.”
Representing Mubadala Capital on the SX Global Board of Directors will be Matt Kim and Russ Pillar, who collectively bring decades of experience backing and leading global sports, media, and entertainment companies. They will be joining Tony Cochrane, SX Global’s President; Adam Bailey, SX Global’s Managing Director (Motorsport); Ryan Sanderson, SX Global’s Managing Director (Commercial); Tom Potter, Rush Sport & Entertainment; and Tavo Hellmund, Founder, Event Partners Marketing, on SX Global’s Board of Directors.
In December 2021, the FIM awarded SX Global the exclusive organisational and commercial rights to stage, manage and promote the FIM Supercross World Championship. Under the leadership of the SX Global Team, and with the financial backing and support of Mubadala Capital, Supercross will become a true global sports property, competing on a legitimate international platform for the first time in history. The FIM Supercross World Championship will commence in late 2022.
