Report: Suns vice chairman Jahm Najafi to buy X Games
Jan 26, 2022, 10:00 AM | Updated: 10:04 am
Phoenix Suns vice chairman Jahm Najafi is set to take over as the new owner of the X Games, according to Sportico.
An investment group led by The Najafi Companies and MSP Sports Capital has signed a letter of intent to purchase the X Games from the Walt Disney Company toward the end of the quarter, per the report.
Najafi is the CEO of Phoenix-based Najafi Companies, a private investment firm he’s been at the helm of since 2002.
MSP Sports Capital is the investment firm that was co-founded by Najafi and former Arizona Diamondbacks part-owner Jeff Moorad, who had a 12% stake in the team from 2004-11.
Moorad Sports Partners (MSP) was founded by the former D-backs owner in 2013 and specializes in sports-related businesses, including purchasing and managing professional sports franchises.
The group has made large investments before, such as putting $300 million into McLaren Racing in December 2020.
X Games Aspen 2022 took place this past weekend from Friday to Sunday at the Buttermilk Ski Resort in Colorado.