The X Games, once a dominant force in action sports during the 1990s, has undergone a significant transformation under CEO Jeremy Bloom, who joined in late 2024. After falling out of the limelight and experiencing declining TV ratings, the X Games was acquired by private equity firm MSP Capital in 2022, with ESPN maintaining a minority stake. Bloom, a former Olympic skier and NFL player who also founded marketing software company Integrate, has led a reinvention of the X Games into a team-based league format, hosting separate summer and winter leagues that are gaining traction with younger audiences. The recent June kickoff event in Sacramento saw record attendance of 52,000 and over 12 million viewers across ESPN and ABC, signaling a resurgence.

This year marks the debut of the X Games' new team format, which has attracted significant investment interest. Bloom successfully led the sales process for all six teams, each selling for eight-figure sums, with buyers including Summit Ventures and UNA Group. Despite skepticism about the appeal of team structures in action sports and the sport's perceived contraction, investor enthusiasm has grown rapidly. The X Games' accessibility has also expanded with broadcasts on ESPN, ABC, and digital platforms like YouTube, Roku, and Kick, broadening its reach both domestically and internationally.

One of the strategic moves behind the reboot involves deep involvement from iconic action sports athletes, who hold equity stakes in the leagues. Notables such as Tony Hawk, Leticia Bufoni, Ryan Sheckler, Nyjah Huston, Scottie James, Chloe Kim, Mark McMorris, and Eileen Gu are part of this group, contributing credibility and influence. These founder athletes are not only invested in their respective summer or winter leagues but also receive financial distributions from each team sale, aligning their interests closely with the league’s success and growth.

Jeremy Bloom himself owns a significant stake in the X Games alongside MSP Capital and ESPN, reinforcing his commitment to the company's future. The transformation from a legacy broadcast event to a modern, youth-focused, multi-platform sports league highlights a conscious effort to engage new generations while maintaining ties to the sport's storied past. With the X Games' recent success in viewership and team valuations trending upward, the brand is poised for a strong return to prominence.