Conor McGregor is no longer the majority owner of the whiskey brand he founded, but the UFC star has added to his growing fortune.
Proximo Spirits, a company that owns Jose Cuervo and other alcohol brands, has acquired a majority stake in Proper No. Twelve Irish whiskey in a deal worth up to $600 million, both sides told spirits trade publication Shanken News Daily on Tuesday.
Proximo previously held a 49% stake in the company. The $600 million will go to brand co-founders McGregor, his agent Audie Attar of Paradigm Sports Management and their partner Ken Austin, who told the publication that the sum includes the $250 million the team already earned in the brand’s first two years in business with Proximo.
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Proper No. Twelve was founded in 2018 and has been promoted vigorously by McGregor, the most popular star in UFC history. Proximo’s new stake in the brand was not disclosed, nor was the length of the agreement.
Mike Keyes, Proximo’s CEO, told Shanken News Daily that McGregor, Attar and Austin will retain an interest in the brand and maintain active roles.