Donald Trump Jr-backed 'steroid Olympics' loses $62 million

Matthew NeschisWed, August 19, 2026 at 2:11 PM UTC

0

Donald Trump Jr.’s investment firm has financially backed the Enhanced Games -Credit:Getty Images

The company behind the Enhanced Games posted a second-quarter loss of nearly $62 million, largely due to expenses stemming from its unsuccessful debut event.

The Enhanced Games — an alternative to the Olympics that has garnered significant financial support from Donald Trump Jr.’s investment firm, 1789 Capital — openly permits athletes to use performance-enhancing substances. Safety measures are in place, though, with competitors restricted to using controlled substances approved by America's Food and Drug Administration (FDA).

Back in May, the inaugural Enhanced Games were widely viewed as a flop, with hundreds of empty seats visible at the custom-built arena adjacent to Resorts World Las Vegas that seated 2,500. The performances also left much to be desired, as several non-enhanced competitors won their events.

• Becky Hammon ejected after screaming in ref's face as Fever catch Aces in WNBA standings

• Enes Kanter Freedom issues ultimatum to WNBA after convincing ex-NBA players to join grift

The after-effects of the Enhanced Games’ underwhelming debut were clear to see, with Enhanced Group posting a net loss of $61.9 million on revenue of $17.7 million last week.

In an official statement, the company attributed the exorbitant deficit to “an intentional decision to invest heavily in its inaugural Enhanced Games, as the foundational platform for both its sports business and as a customer acquisition engine for its performance medicine platform.”

Back in June, Enhanced Group reported that it secured a $50 million investment from the family office of co-founder and chairman Christian Angermayer.

Advertisement

For the 2026 Enhanced Games, the organization also raised $32 million from 10 sponsors.

The Enhanced Games openly permits athletes to use performance-enhancing substances -Credit:Getty Images

Athletes who brought their talents to the Enhanced Games reportedly received annual salaries that are consistently three to five times higher than what they would have earned from their national federations.

Each event also carried a $500,000 prize purse, with the victor taking home a $250,000 share of the total pool.

Any competitor who successfully broke a world record would receive a bonus of $250,000, with that figure climbing to $1 million in the two marquee events — the 50m freestyle and 100m sprint.

Enhanced Group said in a Monday filing with the U.S. Securities and Exchange Commission that its “ability to deliver successful Enhanced Games” will serve as the “most significant near-term determinant of future performance.”

The inaugural Enhanced Games were widely viewed as a flop -Credit:Getty Images

As for what comes next, Enhanced Group revealed plans to host smaller events called “Enhanced Breakers,” during which athletes will try their hand at shattering world records in more intimate settings.

Since going public via a SPAC merger back in May, Enhanced Group shares have dropped nearly 84% year-to-date.

Yet Enhanced Group cofounder and CEO Max Martin expressed confidence that the company would eventually turn into a successful business, arguing that the organization has become a “globally recognized sports brand” that is the “only organization to have successfully conducted a medically supervised enhanced sporting event in history.”

Original Article on Source

Source: “AOL Sports”