Alvarez: Eight Figures & Partnership In ONE Deal
Eddie Alvarez was searching for more than a third lightweight world title when he signed with ONE Fighting Championship, he was looking for his true value.
Alvarez, who has held titles in the UFC and Bellator, claimed he was close to re-signing with the UFC, as he was looking for the best deal he could get.
UFC made a good offer, They were close. I was under the notion that all fighters are underpaid. All fighters in general. For the value we bring and how much the promotions make overall, not just UFC; what they make versus what is paid out, all fighters are underpaid,” explained Eddie on a recent interview on The Ariel Helwani MMA Show.
“So as free agents, we have to compare our contracts to the market. But I was under the notion that the market was really low. The comparables are really low. I’m not necessarily going to compare my contract to my colleagues, to Frankie’s or Marlon’s or guys in my same ranking. I wasn’t going to do that because I already think everybody’s not getting paid. I had a number and UFC almost met it.”
While they almost met the number, Alvarez decided to test his value in the open market, and ONE FC was more than happy to meet that expectation.
“The value of free agency today is so incredible. For any fighter to give that up is foolish. If you really want to make money in this sport and test how much you’re worth, you become a free agent. I would say there’s no other option,” Alvarez told Helwani.
“ONE made me a partner in their promotion. It was more of a partnership than it was, ‘Hey, come on as a fighter. Here’s your money to fight,’ and that’s it. They made me a true partner in the promotion. It’s a package deal. Fighters today are, ‘What do I get to win and what do I get to show?’ Which I think is complete…I haven’t done a win and show contract in 10 years and never will. It’s a package. It’s nothing like a normal MMA contract. They made me a true partner in the promotion.”
“Look without getting into details, the package in general is going to be an eight-figure deal. Eight figure fight deal. A guaranteed eight-figure fight deal in total. They made me true partner, which I am happy about, and they fully committed to me and we’re fully committing back,” explained Alvarez.
The deal would net Alvarez at least $10 million upon the completion of the contract, and with new funding coming in at $166 million, more deals like this may be made available for fighters.
“I’m not the last large signing in the next month or so,” he said. “There will be a shift, a massive shift, in power towards One Championship.”
Quotes Transcribed by MMA Mania