Yahoo Sports ONE Championship Receives Major Funding Boost from Multibillion Dollar Fund
In the wake of the UFC’s $4 billion sale, Asia’s biggest MMA promotion has some financial news of its own. ONE Championship has received an investment reported to be worth tens of millions of dollars from a fund owned directly by the Singapore government.
Temasek Holdings, which currently manages a portfolio worth $178 billion, has invested in ONE Championship through a subsidiary called Heliconia Capital Management. According to a press release, this will allow the promotion to put on events with more frequency, particularly in China.
ONE Championship’s next show is set for the Cotai Arena in Macau next month and chairman Chatri Sityodtong believes this new investment will allow the promotion to expand even further.
TRENDING > Dana White Reportedly Under a Five-Year Deal to do “More Work” for New UFC Owners
“Not only is it a significant mainstream endorsement of ONE Championship and the sport of MMA in Asia, but ONE Championship will benefit from the ecosystem, resources, and networks of both Temasek and Heliconia across Asia. I fully expect to see a sharp acceleration in business fundamentals for ONE Championship across Asia,” he said.
A group led by talent agency WME-IMG is paying $4 billion to acquire the UFC and Chatri believes the Heliconia investment will help to eventually push ONE Championship’s value pass the ten figure mark.
“Heliconia typically invests in two to three companies a year from a prospect list of several hundred companies. Temasek and Heliconia's investment is a strong endorsement of the institutional quality of ONE Championship as well as its potential as Asia's first multibillion dollar sports media property.”
Among the groups reported to have concrete interest in purchasing the UFC were Dalian Wanda and China Media Capital. Chatri confirmed that ONE Championship had also received inquiries from China, as well as offers to buy the company outright.
ONE Championship was founded in 2011 and is headquartered in Singapore. To date, it has held 43 shows in ten different countries and Derek Lau, CEO of Heliconia, believes the promotion will be the “next big thing” in Asia.
“We believe ONE Championship can potentially be the next big thing for consumers in Asia. They have the right product for Asia, they understand Asia, and know how to monetize the value proposition in various ways in the new economy. We are really excited to see ONE Championship taking the lead in the coming years to grow the sports media and entertainment industry in Asia.”
ONE Championship currently has seven events scheduled between now and the end of the year, but more are likely to be added with Chatri telling fight fans to expect some “major announcements” in the coming weeks.
(Follow @JamesGoyder on Twitter)
