X Games Sells São Paulo Club as XGL Expansion Continues
The MoonPay X Games League (XGL) has taken another significant step in its global expansion with the announcement that X Games Club (XC) São Paulo has been acquired by Summit Ventures, a UAE-based investment group led by entrepreneur and action sports enthusiast Ali El Ali.
The acquisition marks another major milestone for the rapidly growing league as it prepares for its inaugural season, strengthening its presence in one of the world’s most influential action sports markets.
Under the new ownership, Summit Ventures will work alongside Brazilian skateboarding icon Bob Burnquist, who will serve as General Manager of XC São Paulo. Together, they aim to establish the club as one of the premier franchises in the X Games League.
The buyer group was advised by Magellan Capital, a Dubai International Financial Centre (DIFC)-based investment manager and financial advisory firm, while Moelis & Company LLC acted as the exclusive financial advisor to X Games.
Brazil at the Heart of Action Sports
Brazil has long been recognised as one of the world’s strongest action sports nations, producing some of the biggest names in skateboarding while cultivating an enormous fan base. São Paulo is expected to become a cornerstone club as X Games continues building a global, team-based competition featuring the world’s best skateboarders and BMX athletes.
X Games CEO Jeremy Bloom believes the partnership brings together the ideal combination of passion, experience and leadership.
“Ali immediately stood out as someone who genuinely lives the culture of action sports. He’s a skateboarder, he’s a surfer, and he understands what makes this community special. Pairing his vision and investment with Bob Burnquist’s leadership and credibility creates an incredibly powerful foundation for XC São Paulo and for the future of the X Games League.”
Ali El Ali Targets Global Growth
For Ali El Ali, the investment is about far more than owning a sports franchise.
Having been deeply involved in action sports for years, El Ali hopes to grow skateboarding participation, improve infrastructure and create stronger connections between Brazil, the UAE and emerging action sports communities worldwide.
He described the opportunity as the beginning of a much larger vision.
“Action sports have had a profound impact on my life. The opportunity to own an X Games Club in Brazil alongside Bob Burnquist is incredibly exciting. Brazil has produced some of the most talented and influential athletes in skateboarding history, and we believe XC São Paulo can become a global destination for athletes, fans and partners.”
He added that Summit Ventures sees enormous potential in helping innovate and expand skateboarding, BMX and the wider action sports ecosystem on a global scale.
Burnquist Ready to Build a Legacy
One of the most decorated skateboarders in history, Bob Burnquist says the partnership represents an opportunity to strengthen Brazil’s action sports community while inspiring future generations.
Having spent three decades shaping skateboarding and leading community initiatives through Instituto Skate Cuida, Burnquist believes the new club will celebrate both sporting excellence and cultural identity.
“Skateboarding and BMX in Brazil are more than sports; they’re culture, community and, for many of us, chosen family. I’m proud to help build XC São Paulo with our riders, our crew, and Ali and Summit Ventures for the long haul.”
Burnquist also highlighted his excitement about connecting action sports communities across Brazil, the UAE and beyond.
Momentum Builds for the MoonPay X Games League
The sale of XC São Paulo is the latest in a growing list of ownership announcements as interest in the MoonPay X Games League continues to surge.
Since unveiling the new league format, X Games has attracted investment from sports franchise owners, private equity firms, entrepreneurs and global business leaders who see significant long-term potential in action sports.
The XGL introduces an innovative model built around city-based clubs, athlete drafts, season-long competition and team ownership, creating a fresh era for professional skateboarding and BMX.
The inaugural XGL Summer Season began on June 26 in Sacramento, before heading to Chiba, Japan, and concluding with the championship event in New Orleans in July. The league will later expand into winter disciplines, including skiing and snowboarding.
With Summit Ventures joining the growing ownership group, X Games continues to build a global league designed to elevate action sports while creating new opportunities for athletes, fans and investors alike.
Additional X Games Club ownership announcements are expected in the coming months as the MoonPay X Games League continues its international rollout.
