The rights to the Mr. Olympia and Muscle & Fitness brands, which includes FLEX, have been sold by American Media, LLC (AMI). AMI’s decision to sell the Olympia and the Muscle & Fitness brands is a sign that things are changing in the fitness industry. AMI sold the assets to Jake Wood, an Arizona-based fitness industry insider.
It’s not secret that the Mr. Olympia weekend has had dwindling attendance year-over-year (regarding total attendance by brands and consumers throughout the weekend) prior to 2019. The sale from AMI to Jake Wood may inject some much needed life back into the prestigious weekend. The prestigious Olympia Weekend, held annually in Las Vegas, is home to one of the global fitness industry’s signature consumer tradeshows while also serving as the world championships of several professional physique sports, including the legendary title of Mr. Olympia.
Jake Wood commented on the acquisition of the brands,
My primary motivation for acquiring the Olympia is to bring the event back to the fans. It’s a dream come true to take ownership of some of the fitness industry’s most celebrated brands. Our ability to also acquire a media portfolio that includes Muscle & Fitness allows us to reach one of the largest fitness-minded audiences in the world. This is a great day for everyone who shares a passion for fitness, nutrition, training and the bodybuilding lifestyle.
Along with the sale came a five year contract extension for Dan Solomon who will serve as President and Chief Olympia Officer under new ownership. In addition to his oversight of the Olympia, Solomon will also manage the integration and strategy for the newly acquired media portfolio, including Muscle & Fitness. Dan was hired in 2018 to oversee the Olympia property. Under Dan’s leadership the Olympia weekend included extra buzz with the appearances of Mark Wahlberg in 2019 and NBA Hall of Famer Shaquille O’Neal being named a 2020 Olympia Ambassador. The 2020 Olympia will also see the return of Mr. 212 Flex Lewis, who received a special invite from the Olympia committee to participate in the open. Dan Solomon commented,
We have achieved something incredibly powerful. The deal has been carefully crafted, clearing the way for us to offer sponsors and advertisers one of the largest combined audiences in the entire category. As we roll out a wide-reaching media and event integration, we also add key resources brought to the table by our new owner. Jake is a visionary and his track record for success speaks for itself. Our sponsors, exhibitors, athletes, readers and fans will be pleased by what the immediate future holds.
Prior to the landmark deal announcement there have only been two previous owners in the 55 year history of the Mr. Olympia. The Mr. Olympia weekend has been held in Las Vegas, NV since 1999. Previous locations of the Mr. Olympia weekend include New York, Los Angeles, Chicago, Atlanta, Orlando, Munich, London, Sydney, Paris and more. It is unknown whether this deal will lead to a location change for the iconic bodybuilding weekend.
To read the full release of the sale, click here.
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Fitness Informant's POV
Congrats to Jake Wood on acquiring a valuable asset in the world of bodybuilding. Having Dan sign a five-year extension is a good thing for the brand. Dan showed the leadership skills in 2019 to bring some excitement to the event. The event needs personalities to help Dan and his team "sell" the weekend, but I think they are looking to do just that.
With the announcement of Athleticon, the Olympia committee needed something to inject excitement into the weekend. Over the years the cost of sponsorship had increased so significantly that brands started pulling out and investing those dollars elsewhere. The weekend includes a Fitness Expo, which, in 2019, saw a lot of main brands missing from exhibiting. Our hope is that under this new leadership they will promote attendance from these brands and make the convention center a must-visit that weekend.
We read that Jake Wood is an advocate for women in fitness, which is a good thing for the sport. We've discussed several times on the website and our podcast the discrepencies between the male and female competitors at the Olympia. We shall see if this change of the guard also promotes the female side of the sport more.
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