If you believe the news, the World Surf League has slammed a giant For Sale sign in its front yard. The opportunity comes fully furnished with monopoly control over the sport’s competitive calendar (CT, CS, QS, Junior, Big Wave), with the rather large exception of the Olympics. Also included are the media broadcast rights and its proprietary streaming platforms (wsl.com and app). In the back shed is the WSL Studios, content library, and archived footage dating back to 1976. It will throw in the 4.1 million Instagram followers and 80 million annual viewers.
Unfortunately, there is no pool. It has been reported that the WSL recently sold its stake in the Kelly Slater Wave Company. On the flip side, Kaipo, Joe Turpel, and Strider are contractually obliged to stay on as house staff in any sale. The WSL had brought in the Raine Group, a prominent Mergers and Acquisitions advisor that has previously worked with Manchester United, the PGA Tour, and UFC, to manage the process. We don’t know what their cut is, but in terms of prospective buyers, we think we might have a few who have a quarter-billion bucks stashed in the couch cushions.
Streaming and Media Companies
It was reported that in 2021, the WSL negotiated a potential sale to Netflix before talks broke down. Netflix has since aggressively bought live sports rights, including some NFL games and WWE RAW. I, for one, would pay to watch a bastardised version of the Squid Game, and see Caity Simmers hunt down Jordy Smith with a flame thrower, or the CT elimination round be a mass slaughter by robots. Apple TV, ESPN/Disney and Amazon Prime have also been investing in sports recently, and could be contenders to step into the ring.
ELO (and Tony Robbins)
The sudden departure of former WSL CEO Erik Logan has never really been explained, and there is every reason to believe that the former Oprah exec has unfinished business in the sport. After all, the second season of the Ultimate Surfer won’t write itself. ELO is now the CEO and Chief Advisor to Tony Robbins, the motivational speaker whose core philosophy is that “your past does not equal your future”. Which is a good mantra if ELO tries to bring the WSL Finals back to Huntington, cuts the 32-man field to four after the second event and gives the Pipe license to the lowest bidder. Now, ELO was associated with a wall of positive noise in his term, and with Robbins by his side, we can expect nothing but endless good news.
Sovereign Wealth Funds and Gulf State Entities
Nothing screams core surf like a state-owned Sovereign Wealth Fund that has made billions profiteering from climate change, and is interested in sportwashing its reputation. Like every sport in the world, pro surfing may be keen to get their hands on some of Saudi Arabia’s Public Investment Fund, which has bankrolled huge investments in golf, football, boxing, tennis, and Formula E. Sure, the bombing of Iran has thrown a few curveballs (and cancelled every sporting event in the region), and the golf hasn’t exactly worked out, and the regime may have dismembered a journalist and made homosexuality illegal, but on the flipside, the CT prizemoney might go up.
Dana White and UFC
In 2023, Street League Skateboarding (SLS) was acquired by a group that included former UFC owner Lorenzo Fertitta and current UFC CEO Dana White. It was done through Thrill One Sports & Entertainment, a portfolio company that includes Nitro Circus. Given that it was these execs who steered the UFC from freak show to billion-dollar property, they might see the WSL as a fresh template for growth. Sure, their first action was partnering with the go-streaming site of the far-right users, but hey ho, you can’t make an omelette, etc. If I squint hard enough, I can also see Dave Prodan becoming the next Joe Rogan.
Fan Owned
Surf fans are famously level-headed, non-partisan, and pragmatic, and would surely get behind a scheme that would have democratic governance, backed by ethical, professional management. Look, it’s worked for the Green Bay Packers since 1923, who now have over 538,000 individuals holding the team’s 5.2 million shares. Spain’s soccer club FC Barcelona has over 140,000 paid members or socios, who vote in club elections and elect the president. Sure, in surfing, the Brazilian fan block may get a little overheated, the Aussies a little aggressive, and the Hawaiians somewhat protective, but can you imagine the sport being owned and run by actual surf fans? Yep, what an absolute friggin nightmare.
But who are we kidding? It will most likely be a private equity firm, who are know for their long-term care and careful custodianship of surfing’s athletes, fans, and its culture. Sarcasm aside, we might look back at Dirk Ziff and his ownership as a Gilded Age of careful and generous stewardship. With any new owners, there’s a good chance the neighborhood could change forever. And not in a good way.
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