Some massive changes are coming to the world of bodybuilding. It has been revealed that the rights to the Olympia competition, as well as Muscle and Fitness have been sold.
The Mr. Olympia contest has been the biggest contest in bodybuilding for several decades. Moreover, it has grown under the ownership of American Media LLC since they bought the company in 2003. However, this is all about to change, as a press release has revealed that the Olympia brand has been sold to Jake Wood.
Wood has grown in fame due to his ownership of the Wings of Strength organization, which puts emphasis on female bodybuilding. According to the release, Jake has acquired both the Olympia brand, as well as Muscle & Fitness and their subset of magazines. In addition to that, Dan Solomon, who has been overseeing the Olympia since 2018, has agreed to a five year contract extension, signing on to be President and Chief Olympia Officer under the new regime.
This is what Jake Wood had to say, regarding this massive acquisition:
“My primary motivation for acquiring the Olympia is to bring the event back to the fans,” explains Wood. “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.”
In addition to being the President of the Olympia, Dan Solomon will also be in charge of overseeing the media properties which have now been purchased. Those entities include the aforementioned Muscle & Fitness, as well as Flex Magazine, and M&F Hers. This is what he had to say about the transition:
“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.”
So what does this mean for the future of the Olmypia?
Well, to be honest a lot of that is still to be determined. However, the general expectation is that fans should expect some positive changes. Wood has some experience being able to grow brands using forward-thinking social media strategies. Therefore it is expected that he will apply similar concepts to the Olympia Fitness & Performance Expo.
The IFBB Pro League is the organization who sanctions the Olympia events. The Pro League President, Jim Manion issued this statement, responding to the purchase, and offering his full support to Jake Wood.
“I am proud to stand with Jake and his team as we usher in a new era. The Olympia is already our most valuable event partnership and the most anticipated event of the year, but I think we’re about to see something amazing under a passionate and dedicated new owner. Jake’s love of bodybuilding is authentic. He and his team have my full support.”
There have been a ton of criticisms in recent years, about the standard of bodybuilding, and the direction of the Olympia contest. It will be interesting to see what Jake Wood is able to accomplish with the company under his care.