Slaw Dog
Well, some massive news dropped last night, as SX Global, which recently secured the rights to the FIM Supercross World Championship, announced some of their plans, as well as a major backer behind the series.
To catch you up real quick. In June, the FIM announced that Feld Entertainment, promoters of Monster Energy Supercross, would not renew their international sanctioning agreement with the FIM, as the Monster Energy Supercross Championship would revert back to a domestic series from next season onward, under the control of the American Motorcyclist Association (AMA).
In December, it was announced that SX Global was awarded the rights to the new FIM Supercross World Championship.
SX Global brings together the creators of the AUS-X Open Supercross Adam Bailey and Ryan Sanderson, alongside Tony Cochrane, the founding chairman and driving force behind the creation, development and growth of the V8 Supercars Championship in Australia.
Okay, so on to the news today. I’ll list some bullet points then the press release below:
- The FIM Supercross World Championship will take place annually, in the second half of the year. 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.
- 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.
- 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 wildcard entries in each class, providing opportunities for local riders and sponsor-driven exemptions to 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.
We are obviously still waiting for a schedule and see what teams and riders will compete in the new series.
You can read the entire press release below.
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 represents 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 wildcard entries in each class, providing opportunities for local riders and sponsor-driven exemptions to 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 emphasises 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 take place annually, in the second half of the year. 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 professional supercross has seen success in the United States for decades, 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.”
What does that mean for a team like Star Yamaha?