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The UFC is expected to be running a historic event on the South Lawn of the White House on June 14.
Previous reports stated that the card could cost upwards of $60 million to put together, but TKO Exec Mark Shapiro says the event could cost the UFC approximately $30 million.
“At the moment, the UFC event at the White House is slated to cost upwards of $60 million,” Shapiro said during quarter financial call on Wednesday (transcript via Damon Martin of MMA Fighting). “I think by the time all is said and done with the event and what we pay the fighters and the fan fest that we’re going to have, that could move north. It’s definitely not moving south. It could move north. Bottom line, it’s still a moving target.
“We are working to determine, on a parallel track, a package of inventory in and around the weekend of events we can monetize, primarily with corporate partners. [Business to business] players that will offset half of the spend. Even if that $60 [million] goes up or rides up on us, we believe we can offset half of the spend. Today, we see as $60 [million], offsetting $30 [million]. Now I would mention we have several current and prospective partners that are pursuing multi-year partnerships with TKO assets that likely will be inclusive of the White House event. We have a lot of current and prospective partners that would like to be involved and inquiring about inventory as part of their greater partnership deals they either already have or are negotiating with us for the future.”
No fights have been announced for the card yet and it is unknown as to when that announcement could come.
Shapiro confirms that the UFC will not be making any money when they run the White House card on June 14.
“But I want to be clear about something — we will not profit from the White House event independently,” Shapiro said. “We will not be making money on America’s 250th anniversary. This is an investment for the long term. This is about earned media. This is about sampling, new fans, casual viewers, a spectacle on a stage that will ultimately expand our audience, our viewership and our success on Paramount+.”
