Peter Thiel's doping-friendly Olympics seeks $300 million from investors
Enhanced Games, an Olympics-style event promoting the use of performance-enhancing drugs, is aiming to raise approximately $300 million. This venture is backed by PayPal co-founder and billionaire Peter Thiel and Balaji Srinivasan, a cryptocurrency investor and former Coinbase Inc. executive. The London-based company has begun talks with potential investors, including sovereign wealth funds, for a mix of debt and equity financing. The inaugural competition is slated for next year, says Christian Angermayer, co-founder of Enhanced Games.
Enhanced Games slammed by authorities
Enhanced Games promises an annual event where athletes can use performance-enhancing drugs. The event is said to feature ten disciplines including the 100-meter dash, freestyle swimming, and combat sports. Despite support from investors, the concept has been criticized by the International Olympic Committee (IOC) and anti-doping authorities for potentially endangering athletes' health and violating fair play principles.
Angermayer defends the concept
Despite facing criticism, Angermayer remains steadfast in his support for the Enhanced Games. He stated, "I believe science is on my side," referring to anonymous surveys indicating prevalent doping among competitive athletes. He further clarified that all participants will undergo medical screenings and can only use substances approved by the US Food and Drug Administration (US FDA). These include anabolic steroids and growth hormones.
No set date or location for the games
Enhanced Games was launched in 2023, with approximately $10 million in capital. Scheduled for next year, the event still lacks a confirmed date or venue, though multiple cities are vying to host it, according to Angermayer.
