A&O Shearman has advised Summit Ventures on its acquisition of X Games Club (XC) São Paulo in the MoonPay X Games League (XGL).
Summit Ventures, advised by Magellan Capital, is a UAE-based investor group focused on investing in sports and live entertainment. Through the transaction, Summit Ventures, led by entrepreneur Ali El Ali, has assumed ownership of XC São Paulo and will partner with Brazilian skateboarding legend Bob Burnquist, who will serve as general manager, to build one of the premier clubs in the XGL.
The XGL was launched in 2026 and this is the acquisition of one of four teams to participate in the inaugural summer league. The XGL is a portfolio company of MSP Sports Capital.
“We are thrilled to have advised Summit Ventures on this exciting transaction. The MoonPay X Games League represents a compelling new chapter in professional sports, and the acquisition of XC São Paulo is a testament to the growing investor appetite for innovative sports properties. We look forward to continuing to support our clients as they identify and capitalize on opportunities in this dynamic and rapidly evolving space.”
Antony Dean
Senior Associate
Samer Eido, partner at A&O Shearman, added: “We have been pleased to support Summit Ventures with a multi-jurisdictional and multidisciplinary team on this transaction. The intersection of sports, entertainment, and private capital continues to present unique and complex opportunities, and we look forward to working with Magellan on similar groundbreaking opportunities in the future.”
The A&O Shearman team advising Summit Ventures was led by partner Roger Morscheiser and senior associate Antony Dean and included partner Samer Eido, senior associate Magnus Yadi, and associate Andrew Calamari, alongside lawyers based in the New York and London offices.
A&O Shearman’s global sports practice, led by partners Claire Coppel, Roger Morscheiser and Tina Barazandeh-Nejad, stands at the forefront of the sports industry, providing an extensive and comprehensive suite of legal services tailored to meet the unique demands of teams, leagues, and organizations.