Former Olympic gymnastics coach Aimee Boorman is hoping to raise money through an equity crowdfund to stand up a “first of its kind” professional women’s gymnastics league.
In an offering statement filed last month with the Securities and Exchange Commission, the U.S. Pro Gymnastics Invitational—otherwise known as the Global Impact Gymnastics Alliance—disclosed its modest plan to raise between $10,000 and $574,222 with an offering of $0.79 per share.
Through a spokesperson, the company declined to comment.
Boorman is a well-known figure in the sport, having spent more than a decade training Simone Biles—from the time the star gymnast was eight—and also serving as head coach for the United States’ gold medal team at the 2016 Rio Olympics. The Boorman-Biles partnership ended later that summer, when the coach left her position at World Champions Center, the Texas-based gym owned by Biles’ family, to become executive director of the EVO Athletics training facility in Florida.
In 2022, Boorman co-founded the Global Impact Gymnastics Alliance (GIGA), along with LaPrise Williams, the former Baylor women’s gymnastics coach, and Maura Fox, a product solutions consultant. According to the offering statement, the three have agreed to defer their annual compensation of $75,000 each until the company’s “cash flow allows.”
GIGA says it seeks to “address the glaring gap” in opportunities for female gymnasts to compete and earn money outside of the Olympics. It is hoping to ride the wave of recent outside investment in other women’s professional sports—such as the multi-sport league Athletes Unlimited, volleyball’s PVF, hockey’s PWHL and soccer’s USLW—as well as the Paris Summer Games that commence next month.
“Women’s gymnastics, the most-watched Olympic sport, has no pro system, and this results in a series of negative impacts to athletes, fans, and the sport overall,” said GIGA’s SEC filing. “GIGA introduces an innovative solution to unlock the sport’s true potential, combining a women’s pro league and multimedia platform to enable athletes on field of play, captivate fans, and propel gymnastics into a new era.”
GIGA disclosed it has previously secured $130,000 in funding grants and sold $75,000 worth of SAFE instruments—early-stage investment contracts that convert to equity upon a predetermined triggering event. The venture also claims to have approximately $100,000 of sponsorship deal commitments. As of Tuesday, the company’s latest round has raised $9,001 ahead of its Aug. 23 deadline.
The company acknowledges several factors that make an investment in GIGA risky, including its reliance on developing and maintaining relationships with partners, including broadcast networks and sporting venues. It also notes the “competitive pressure” a new pro sports competition would face and the hurdle of attracting talent from around the world while having to navigate visa and immigration regulations, culture and linguistic barriers, and other competitors.
GIGA, however, claims that it has already gotten commitments from nine “top world Olympic gymnasts” and is in discussions with 15 others.
Brendan Coffey contributed to this report.
