PFL Announces New Financing Round Of $65 Million
The Professional Fighters League has announced a new round of financing totaling $65 million.
MMA promoter, PFL will be receiving the institutional financing round from Ares Capital, Elysian Park Ventures, and Knighthead Capital. The promotion confirmed the news when speaking to Insider. This brings PFL’s overall financing amount to $175 million. Before the UFC made a turnaround, the promotion had a $30-40 million investment. The UFC ended up turning things around with The Ultimate Fighter and the booming PPV business beginning with the rematch between Chuck Liddell and Tito Ortiz back in December 2006.
In a company statement, the PFL revealed that this new round of financing will “fund international expansion, top talent acquisition, new product innovation, and global audience growth.”
ESPN’s Ariel Helwani reports that most of the financing will end up going to fighter acquisitions. Recently, the PFL has made some notable signings including former UFC Heavyweight Champion Fabricio Werdum, Rory MacDonald, and current women’s boxing champion Claressa Shields (two-time Olympic gold medalist), who is trying her hand at MMA competition.
The PFL was created by a top tier of investors with a passion for MMA. These investors include Ted Leonsis and Mark D. Lerner to name a few. Leonsis owns the NHL team Washington Capitals and the NBA team Washington Wizards. Lerner is the principal owner of the MLB team Washington Nationals.
The PFL will be making its return after being on the shelf all of 2020. PFL will get the ball rolling again on April 13. It will be followed by events on April 29, May 6, June 10, June 17, and June 25. On December 31, the finalists for each division will be competing for a championship and the $1 million prize.
Rosters for various “divisions” have been announced for 2021. The heavyweight, light heavyweight, welterweight, women’s lightweight, lightweight, and featherweight “divisions” have been revealed. For more information, visit the official PFL website.