WSOF is the latest combat sports promotion to get a big cash buyout from investors.
The World Series Of Fighting isn’t dead yet.
Concerns about the fight promotion’s future have been growing over the past few months as events were cancelled and several of the organization’s champions left the fold. But according to paperwork dug up by Canadian MMA journalist Mike Russell, WSOF just sold a 60% stake of the company to a group of investors for $25 million dollars.
SEC filing for WSOF’s new investment group. 31 backers reportedly raised $25-million for 60% of the struggling org. https://t.co/eBPBoFA6Hz
— Mike Russell (@MIKERUSSELLMMA) January 31, 2017
World Series Of Fighting has held just over 40 events since coming onto the scene back in 2012 featuring a lot of former UFC talent like Andrei Arlovski, Jon Fitch, Rousimar Palhares, and Jake Shields. But a mountain of lawsuits fired back and forth between several parties involved in the company have left a shadow over its future, and recently WSOF has been forced to consolidate and postpone several of its events, including their next event that was set for February 28th in Las Vegas.
There have been a number of high profile investment deals in combat sports recently, most notably the 4.3 billion dollar buyout of the UFC by a consortium led by entertainment giants WME-IMG. There’s also Al Haymon’s Premier Boxing Champions promotion, which is being sued by its investors to the tune of between $300 and $900 million dollars.
The obvious question with those deals and this latest WSOF one is whether they’re worth the money being invested. The PBC deal shows that it’s easier to raise money in fighting than make it. With Ronda Rousey and Conor McGregor not stepping back in the cage any time soon and dissatisfaction growing from other fighters on the roster, even the UFC deal seems a bit iffy right now.
WSOF doesn’t have many stars and are reportedly paying out the nose for the names they still have. But one plus they have is a broadcast deal with the NBC Sports network. Will it be enough to make back the $25 million just injected into the company by this new group of investors?
Source:: mma mania