White said the company was close to being forced to fold in late 2004, when he said debt from the first four years of ownership had reached eight figures. The debt has been reported to be as much as $40 million and as little as $20 million.
Of shit the UG UFC Haters with their UG C.A. certification will be pissed.
They may have to moan about payout disparity a little louder and change their theses on the ethics of running a corporation in capitalist society.
sobs for the UG accountants
WHY GOD WHY
Dana's not starving anymore.
"Time for Zuffa to stop giving the fighters asspennies."
Agreed the fighters should put an end to it!
LMAO
For sale to highest bidder: 1 'Franklin' edition asspenny.
Or, will trade for a 'CroCopper'.
"The same article you just quoted also said that the UFC's now making a $10 million profit per show as well, meaning that debt's long gone."
Not exactly. The recent shows have been very profitable, but they are still supposedly paying off the remainder of the 20 to 40 million dollar debt.
... Or as the Fertittas call it "Money lost under the couch cushions".
Dont forget, one of the Fertitta brothers was responsible for shooting down the UFC's attempt at getting licensed in Las Vegas, when he was on the Boxing Commission.
Strangely enough, after it didnt get licensing, he turned around and bought the company and get it licensed.
Zuffa and Dana arent the most trustworthy people.
LOL at the haters.
Hopefully when the debt is manageable there will be another expansion.
I can't even comprehend the idea of being 40 mill in debt and still working it.
The fact that they are still paying off the debt DOES NOT mean they can't afford to pay it off now. Many more tax advantages to be able to show debt still.
"I can't even comprehend the idea of being 40 mill in debt and still working it."
And I can't imagine owning several successful hotel/casinos. Station casino stock has doubled in the last year. They aren't doing bad.
"From: kying418
Dont forget, one of the Fertitta brothers was responsible for shooting down the UFC's attempt at getting licensed in Las Vegas, when he was on the Boxing Commission.
Strangely enough, after it didnt get licensing, he turned around and bought the company and get it licensed.
Zuffa and Dana arent the most trustworthy people. "
It's called getting a good price for a buy-out. If they were eying the UFC prior to this.
Thus completes the 2006 volume of Anthems for the "Haves" and the "Have Nots"
Sobs uncontrollably for the omnicient UG accountants
I am unsure of whether to believe this, because of the UFC spin on things. Interest rates were at all time lows during the last few years. Most companies ran up debt during this time, because it was cheap money to pay for expansion. This is exatcly what the UFC was doing this time with their advertising, etc. One thing is clear, they sure wasn't spending the money on fighter's salaries.
In general as something becomes more sucessful, employees are generally better paid. The UFC has tried to stop all competition such as the IFL, to help keep their salary structure in place. Once the demand for the fighers catches up with the supply things will even out.
dana wears the most expensive rolex I have ever seen in person
LOL@Hemlock!
Wow. Didn't know that ryan... Pretty uncool.