Source: Fox News
Summary
TKO Group Holdings President Mark Shapiro stated that the UFC is expecting to pay upwards of $60 million for a first-of-its-kind UFC card at the White House, scheduled for June 14. The event is expected to cost the UFC at least $30 million, with the promotion hoping to recoup some of the costs through sponsorships and other avenues.
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The game followed a familiar script. The UFC is about to drop a small fortune on a White House event, hoping to make it back with sponsorships and new fans. They’re expecting to lose at least $30 million, but hey, it’s an investment for the long term.
The event will feature a “greatest fight card ever assembled,” according to Dana White, but the real question is, will it be worth the cost?
TKO is taking on all the costs, including building an arena on the south lawn and paying fighters. They’re hoping to get at least half of the $60 million back through sponsorships, but it’s still expected to be a big loss.
This one feels like a classic case of “we’re going to invest in the future” instead of “we’re going to make a profit now.”
