Two private equity firms, Juggernaut Capital and Fiume Capital, have joined forces to lead a $300m deal to buy the sports and entertainment company Thrill One Sports & Entertainment. Other investors include sports industry executives and skateboarders. Thrill One was founded in 2020 out of the union of various brands in the market including Nitro Rallycross, Thrill One Media and Street League Skateboarding. The company covers action sports content and was previously owned by Raine Group and Causeway Media. The new owners have had previous experience with building a mixed martial arts brand, UFC, which subsequently sold for $4bn. In order to grow the Thrill One company, further acquisitions will be sought byCEO Joe Carr wwho wants to expand the range of action sports included in its global action sports coverage.
Thrill One $300m deal
