ONE adds $70 million capital, reduces staff by 20%

ONE Championship announced on Monday that it has added US$70 million to its war chest, bringing total capital to US$346 million. ONE Championship has also streamlined operations, including a 20% reduction of total worldwide headcount.

"I am thrilled to announce that ONE Championship closed another round of funding a few weeks ago with existing institutional investors as well as a new institutional investor," said Group President Hua Fung Teh. "I am full of gratitude for this strong vote of confidence amidst the worst global economic crisis in 100 years. With 9 figures of cash on the balance sheet and a streamlined organization, ONE Championship looks forward to continuing to delight our fans around the world with more heroes and new experiences for many years to come."

h/t ONEFC.com

1 Like

But The ufc is evil for not giving fighters MORE money during these times. 

2 Likes

"...bringing total capital to US$346 million..."

I'll see if I can get a link to the fairly recent Bloody Elbow article that says ONE is bleeding cash at historic levels. I don't know where they find the suckers to cough up millions for that fucked up organization, but they make PFL's operation look like the model of sustainability.

As the saying goes, "There's a sucker born every minute." 

My own saying is: "There's always someone new who wants money laundered." I'm guessing that's what keeps ONE going.

Yeah, that's a solid operation.

https://www.bloodyelbow.com/2020/6/8/21275948/one-championship-finances-accumulated-losses-skyrocket-to-126-million

1 Like

Make more money and fire your staff very positive indeed

2 Likes

I'll give them this....they're great talkers.  

1 Like
ValeTudo 1 -

Make more money and fire your staff very positive indeed

Making money and raising money are two completely different things

1 Like

People can critique the UFC all day long and some of it is valid criticism. But the bottom line is businesses need to make $ to stay alfloat. Obviously strides need to be made in the future revenue for share but its not as black and white as it may seem on the surface. 

The fact still remains the UFC pays more than any other organization and provides their fighters with health insurance on top of that. 

2 Likes

gokudamus -

But The ufc is evil for not giving fighters MORE money during these times. 

 

Is Brandon Vera still juiced to the gills and kicking ass over there?

All that money and no big names?

This guy is so full of shit. 
He has some of you buying into his holier-than-thou act. 

3 Likes

MMA needs a WCW

Someone to come is and write checks for big names, current names

 

1 Like

Im sure the investors like that they have "streamlined"

Richardjohnson81 -

Is Brandon Vera still juiced to the gills and kicking ass over there?

Yes. I think he lost his last fight but he’s still the HW champ IIRC 

ONE is the Tesla of MMA orgs, good job guys 

The whole onefc is a scam. I brought them in our country and helped them along with my promotion. They give all free tickets and say sold out. They literally bus people in. This is in ALL EVENTS around Asia. They have NEVER sold out anything all of that is free. The Asian crowd is different. They wont pay top dollar to watch another countrys champion. Not even their own sometimes. They are just good internet marketeers. Most of the sponsors they have are barter sponsors not actual cash. Those poor investors will NEVER see their money. Search Temasek of Singapore and check how much money they “lost” with this promotion. This is how they operate, they get $3m from an investor then when he needs an ROI they get another investor for $3m then pay him $1m then they do the same thing on and on. I wont even go into the game fixing and other shit they do.

5 Likes

Why are they giving support to the World Health Org. They helped bring us the chi-com flu?

Alvin Aguilar -

The whole onefc is a scam. I brought them in our country and helped them along with my promotion. They give all free tickets and say sold out. They literally bus people in. This is in ALL EVENTS around Asia. They have NEVER sold out anything all of that is free. The Asian crowd is different. They wont pay top dollar to watch another countrys champion. Not even their own sometimes. They are just good internet marketeers. Most of the sponsors they have are barter sponsors not actual cash. Those poor investors will NEVER see their money. Search Temasek of Singapore and check how much money they “lost” with this promotion. This is how they operate, they get $3m from an investor then when he needs an ROI they get another investor for $3m then pay him $1m then they do the same thing on and on. I wont even go into the game fixing and other shit they do.

Hmm, interesting.