Investment Team Buys into WSOF for $25M
While rumors about the demise of World Series of Fighting have heated up the past few months, the promotion is apparently not going under just yet.
A team of investors has reportedly bought a substantial portion of the struggling promotion. According to an SEC filing discovered by MMA journalist Mike Russell, WSOF sold a 60% stake of the company for $25 million dollars. The amount was reportedly raised by 31 participants.
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
According to an exclusive report from the Washington Business Journal, business leaders Russ Ramsey and Donn Davis headed the “MMAX Investment Partners” team that purchased the majority stake of WSOF.
The promotion began in 2012 and has only put on a little more than 40 events since its inception. It has featured its share of UFC veterans such as Jake Shields, Jon Fitch, and Andrei Arlovski. The promotion’s future has been marred by a number of lawsuits and legal battles involving some of World Series of Fighting’s owners. When the promotion cancelled two events late in 2016 and then held a stacked card at the year’s end, many believed that they would be on their way out of the business in 2017.
It appears, for the time being, World Series of Fighting still has a future in the world of MMA.