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The UFC Freedom 250 event held on the White House grounds in June has been described by TKO officials as a “roaring success.” But the financial numbers tell a different story.
TKO Group Holdings, the parent company of UFC (Ultimate Fighting Championship), says it spent about $60 million US in production costs for the June 14 event — one of the most highly anticipated fight cards in the organization’s recent history.
But during the company’s earnings call on Monday, chief financial officer Andrew Schleimer admitted the company lost roughly $30 million on the elaborately staged spectacle, which was held to mark the United States’ 250th birthday and President Donald Trump’s 80th birthday.
“We incurred significantly higher-than-normal costs, which we partially offset with sold-out global partnerships inventory,” Schleimer told investors during the company’s Q2 earnings call, according to Variety.
“As a reminder, we did not sell tickets and therefore did not record any live events revenue. Given the event’s financial profile — which as anticipated resulted in approximately $30 million loss — our margins at UFC, as well as on a consolidated basis, were meaningfully impacted.”
The mixed martial arts event, drew more than 34 million viewers globally, according to Variety, and featured a seven-fight card that marked the first time in UFC history that every bout ended by knockout or technical knockout. Fourteen elite fighters squared off in the cage fight erected on the White House’s South Lawn before a crowd of roughly 4,300 guests, including members of U.S. Congress, business executives, military service members and Trump administration officials.
The White House billed it as a “once-in-a-generation celebration of the American fighting spirit.”
Despite the financial loss, TKO’s CEO, Ari Emanuel, was singing the event’s praises during Monday’s earnings call.
“TKO’s unique ability to deliver one-on-one live events and experiences was front and centre in the second quarter. Nothing illustrates this better than UFC Freedom 250 held in June,” Emanuel said on the call. “This event was a roaring success for our company, the UFC brand and the sport of mixed martial arts, exposure, earned media, audience expansion and a weekend-long fan experience.”
Other executives echoed the sentiment. TKO’s chief operating officer, Mark Shapiro, praised the fight for generating more than $1 billion in “earned media value” while strengthening the company’s commercial partnerships.
“It also deepened our commercial relationships, adding 25 new marketing partners to our roster — many signing multi-year or multi-event deals,” Shapiro said, according to The Hill, adding that the event “delivered results as designed.”
Roaring success or not, fans expecting the event to return to the White House shouldn’t get their hopes up. UFC president and CEO Dana White, a longtime friend of Trump, said after the event that while it was “an amazing experience,” his company has no plans to stage a repeat due to the enormous cost.
“I can’t afford it,” White said according to US Weekly. “I’ll never do the Sphere again, and we’ll never do this again.”
