Street League Skateboarding has new ownership after Fiume Capital and Juggernaut Capital Partners acquired Thrill One, the company behind SLS and several other action sports properties.
According to reports, the deal is worth US$300 million, with the pair taking over the company from investment firms The Raine Group and Causeway Media Partners.
Thrill One was created in 2020 by bringing together Nitro Circus, Nitro Rallycross, Street League Skateboarding and Thrill One Media.
The company was built to bring live events, original content and action sports brands under one umbrella.
Pro skater Rob Dyrdek, who founded both SLS and Superjacket Productions, also took part in the transaction as a co investor through his venture company, Dyrdek Machine.
For SLS, the deal comes as the skateboarding league continues to grow its live event presence. The Championship Tour features some of the best street skaters from around the world, including Olympic medalists and former world champions.
The league was also preparing to return to indoor arenas after spending three years away from them. Events feature custom concrete skate plazas designed specifically for each stop, giving competitors a unique setup to work with.
The new ownership group also brings experience across sports, media and consumer businesses. Fiume Capital and Juggernaut Capital Partners have previously worked together on youth sports ventures, and their investment gives Thrill One additional resources for expansion.
That could include growing its existing brands as well as pursuing new acquisitions. The company has already built a large portfolio across live events, television and digital media, giving the group plenty of room to expand.
Beyond SLS, Thrill One has plenty happening across its other properties.
Nitro Circus was planning a 40 date global tour in 2022 with events in Australia, New Zealand and Canada, along with the Nitro World Games in Brisbane.
Nitro Rallycross was also expanding internationally with a 10 race schedule across three continents. The series was preparing to introduce the FC1 X electric rallycross car as part of its plans for the future.
Thrill One Media continued developing television projects while building on shows connected to its production history, including Ridiculousness, The Dude Perfect Show and Rob & Big.
At the time of the acquisition, the company said its brands were expected to collectively produce more than 70 live events, around 100 hours of live sports coverage and more than 300 episodes of television during 2022.
The company also had a huge digital audience, with more than 40 million followers across its various social platforms.
For Dyrdek, the deal also keeps him connected to two companies he helped create. His continued involvement gives him a role in the next chapter for SLS and the broader Thrill One portfolio.
With new financial backing and an ownership group experienced in sports and consumer businesses, Thrill One now has the resources to expand its existing properties and explore new opportunities.
For skateboarding fans, the biggest question is what the new ownership means for SLS and where the league goes from here.