Feb 26 β€’ 22:30 UTC πŸ‡ΊπŸ‡Έ USA Fox News

UFC says it won’t profit from White House event that could cost 'upwards of $60M'

The UFC is preparing for an unprecedented event at the White House, expected to cost upwards of $60 million, which it will not profit from.

The UFC is set to host a unique event at the White House on June 14, marking a significant moment in sports as it is the first of its kind. However, the operational costs associated with the event are projected to exceed $60 million. Mark Shapiro, the president and COO of TKO Group Holdings, shared these estimates during a financial call, indicating that as the planning progresses, costs could rise further.

Beyond just the infrastructure needed for the event, including the construction of an arena on the White House's south lawn, the UFC will bear the responsibility for compensating the athletes who will participate, alongside organizing a fan festival. Shapiro emphasized the unpredictability of the total expenses, suggesting that they are expected to rise rather than decrease as the planning unfolds. The UFC's commitment to the event reflects its ambitious vision to blend sports entertainment with a prestigious venue, potentially raising its profile among fans and sponsors.

Despite the substantial financial undertakings, the UFC has clarified that they do not expect to profit from this endeavor. This decision raises questions about strategic priorities for the organization, particularly in how high-profile events are woven into their broader business strategy and marketing approach, especially when engaging in unusual locations such as the White House. The implications of this venture could extend beyond immediate financial outcomes, impacting UFC's brand visibility and market reach.

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