The X Games League, the new action sports league that will kick off its first summer season this weekend in Sacramento, has sold its summer team representing São Paulo to Ali El Ali, CEO of Emirati offshore energy logistics firm ZMI Holdings, through his Summit Ventures. Financial details were not disclosed.
In addition to São Paulo, the XGL has also sold summer and winter teams representing N.Y., as well as a summer team in L.A. and winter team in Park City. The team representing Tokyo remains unsold, as do two yet-to-be-disclosed winter teams. Title sponsor MoonPay holds an option to acquire up to two teams.
