Lead Governor of the Boston Celtics Wyc Grousbeck is planning a new venture focused on extreme sports, reports Bloomberg’s Scott Soshnick.
Grousbeck, one of several governors comprising the Boston Basketball Partners — the Celtics ownership group — plans to work with a group of investors to organize the world’s largest extreme sports company.
With the intention of capitalizing on the growth of sports like BMX biking, and skateboarding among several others, Grousbeck’s Causeway Media Group will work with sports investors Raine Group and DraftKings to produce extreme sporting events and license their broadcast.
Early estimates of revenue from the venture are in the $100 million range, and with extreme sports increasingly gaining global respect — surfing, BMX and skateboarding will be official events at the 2020 Tokyo Olympic Games, for example — investors are bullish on potential returns.
“Thrill One”, as the company will be known, plans to hold more than 30 events in 2020, in locations across Australia, China, the U.K., and U.S.