Record Loss For Group One Holding in 2021

The COVID-19 Pandemic Has Been Tough On The Martial Arts Promotion


According to Deal street Asia, Recent filings to Singapore’s Accounting and Corporate Regulatory Authority (ACRA) show that ONE Championship‘s annual losses for 2021 jumped 125% to $111 million compared to the same period in 2020. This includes a $38 million fair value loss due to the conversion of its convertible notes to equity. The firm’s net cash flow used in operating losses also grew 61.9% to $63 million in 2021 from $38.2 million in 2020.

ONE reported $56 million in “marketing expenses” and $50 million in “administration expenses” for the year, according to Bloody Elbow.

The company also reported that their revenues for the year was $67.7 million, which is a 19% increase from 2020’s $56.8 million. Behind that percentage comes from broadcast rights ($50 million) and sponsorship income ($9.2 million).

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ONE still includes non-cash components as part of their revenue. Their total revenue is made up of goods or services being transferred “over time” in the future, according to Deal Street Asia.

Since 2017, CEO Chatri Sityodtong has been hit with questions regarding the company’s finances. In 2021, he denied the reports of their losses.

“I’ll just say like look, the internet is a dangerous place if you believe everything you read,” Sityodtong said in September 2021.

“There was tons of inaccuracies, tons of errors, it’s not even like one or two, if it were just like one or two I would point it out. I mean like, it’s not worth addressing. Again, it’s like I said, um, like, I like to let the truth speak over time.”

They have not released a public comment.

ONE also recently re-domiciled to the Cayman Islands, according to recent filings in Singapore. They have also reportedly transferred all of its shares to an entity called Group One Holdings (Cayman) on August 15 of this year.

AccountingLossOne Championship