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Shaun White is launching a new professional tour for snowboarding and freestyle skiing, the five-time Olympian announced Monday morning.

Why it matters: It's the sport's first global professional league and signals rising investor interest in extreme sports.

Zoom in: The Snow League is backed by Will Ventures, Ares Management funds, David Blitzer and Ryan Sports Ventures.

The league did not disclose the investment amount, but Will Ventures managing partner and co-founder Isaiah Kacyvenski told Bloomberg their firm led the league's seed stage round with a nearly $4 million investment.

The total prize purse for the first season will be at least $1.5 million, the league said, which would represent the richest prize purse in the sport.

The league will kick off next March with its first event in the U.S., followed by four events abroad.

Catch up quick: The Snow League announcement follows last week's move by the X Games to launch a team-based format in 2026.

Shaun White launches pro snowboarding tour

The Snow League is backed by Will Ventures and Ares Management.

USA's Shaun White gestures after his run in the snowboard men's halfpipe final run during the Beijing 2022 Winter Olympic Games

Shaun White after his run in the snowboard men's halfpipe final run during the Beijing 2022 Winter Olympic Games. Photo: Ben Stansall/AFP via Getty Images

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Shaun White is launching a new professional tour for snowboarding and freestyle skiing, the five-time Olympian <a class="gtmContentClick" data-vars-link-text="announced" data-vars-click-url="https://www.businesswire.com/news/home/20240617262035/en/Shaun-White-Announces-the-Launch-of-The-Snow-League" data-vars-content-id="40e7eb10-db21-41f7-ac93-01e093cc13b8" data-vars-headline="Shaun White launches pro snowboarding tour" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.businesswire.com/news/home/20240617262035/en/Shaun-White-Announces-the-Launch-of-The-Snow-League" target="_blank">announced</a> Monday morning.Why it matters: It&#x27;s the sport&#x27;s first global professional league and signals rising investor interest in extreme sports.

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Shaun White launches pro snowboarding tour

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