Mubadala Capital, the asset management subsidiary of Abu Dhabi sovereign wealth fund Mubadala Investment Company, has made an investment in SX Global, an Australian company set up to manage and promote the FIM Supercross World Championship.
Mubadala said in a statement the investment will support SX Global’s expansion plans for a global supercross series in a new competitive format.
A report in Sportico.com said Mubadala will be investing at least $50 million, although Mubadala didn’t disclose the value of the commitment.
Mubadala has previous experience in the sports industry. The Sportico report said that in 2014, it invested in talent agency Endeavor, which subsequently bought the UFC and the Professional Bull Riders tour. It was part of the $3.5 billion sale of the YES Network in 2019, alongside Yankee Global Enterprises, Sinclair Broadcast Group, Amazon, RedBird Capital and Blackstone.
It currently owns 13 percent of the country’s most watched regional sports network. Mubadala’s CEO, Khaldoon Al Mubarak, is also chairman of Manchester City, the report said.