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  #1  
Old 03-14-2020, 11:32 PM
New York Knight New York Knight is offline
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“The fights will go on. They will continue. We’re not stopping.”

Per Dana:

Next week’s UFC Fight Night will move from London to another venue TBD.

March 28 and April 11, which were supposed to be moved to Vegas, will move to a venue TBD.


Dana on the Khabib Nurmagomedov vs. Tony Ferguson fight scheduled on April 18 ...

“That fight will happen. It will go on. The fans are all freaking out about that, do not worry. Khabib vs. Tony will happen.”


"The only thing that's going to stop us is a complete government shutdown, where everybody is confined to their homes."
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Old 03-14-2020, 11:45 PM
New York Knight New York Knight is offline
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Crazy situation going on and he’s trying his best to get things done for both his fighters needing paychecks and fans wanting violence.

I don't always agree with him, but I sure am grateful for the effort he's putting in. He is trying to give us a sense of normalcy when everyone else is freaking out like idiots thinking the end is near.

And it's also a huge plus that he's tight with President Trump.
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Old 03-15-2020, 02:32 PM
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Leon Edwards statement via Instagram ...

He's not fighting. He's not travelling. He's staying at home. Hoping the fight with Tyron Woodley can be rebooked when it's safe to do so.
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Old 03-15-2020, 02:39 PM
New York Knight New York Knight is offline
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Within minutes of the announcement, Colby Covington and Gilbert Burns offer to face Tyron Woodley on short notice ...
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Old 03-15-2020, 04:55 PM
New York Knight New York Knight is offline
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Rafael dos Anjos has told the UFC that he is ready and willing to fight Woodley on 6 days notice

He said he can also make 171, too.
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  #6  
Old 03-15-2020, 05:57 PM
wayne1218 wayne1218 is offline
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As much as many of us think people are freaking out or overreacting, Dana needs to acknowledge what is going on and step back for a minute. Stop trying to be a hero and force things when all others are concerned. It’s a bad look for him and the sport, and it isn’t good for the guys fighting either. JMO
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  #7  
Old 03-15-2020, 07:28 PM
New York Knight New York Knight is offline
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Dana isn't doing this to be a hero or defiant or greedy ... He is fighting for UFC’s solvency.

Just last month, WME and Dana raided UFC's cash reserves ($300M) to pay out to investors.

If they can’t do the next few events, they are fucked. Each ESPN+ event is around $10+ million in lost revenue, PPVs even more. Also, if they shut down for an extended period of time they will default on their bonds.

If they don’t do events, they have no revenue, they don’t have a business.
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Old 03-15-2020, 07:38 PM
wayne1218 wayne1218 is offline
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I thought they were worth billions now. Things are that tight? Seems odd after seeing all the stories of where it started and where it is today. Unfortunately they are not alone. Every business is suffering from this. It also seems like these fighters should have a little cash in the bank. Hard to believe they are living paycheck to paycheck or In this case fight to fight

I’ll watch but I understand if guys don’t want to travel or take part
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Old 03-15-2020, 07:55 PM
wayne1218 wayne1218 is offline
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Just seems odd because I just read that the ufc is worth $7 billion after the $1.5 billion espn deal. Losing 10 million and PPV fees on a few events doesn’t seem like something a business worth that much couldn’t sustain. Saw Dana white was worth $500 million too. Didn’t know he was worth that much but damn, it’s hard to believe they would go out of business over a few lost events, if that happened
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Old 03-15-2020, 09:09 PM
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Dana only owns 9% of the company, he isn't going to sink hundreds of millions into it to save it.

Another reason why the UFC wants to keep fights going is because of Endeavor's crushing $5 billion debt load.

As of a few months ago, Endeavor had around $4.6 billion of debt on its books, around $400 million more than the company paid for the UFC in its entirety. That doesn’t include a term B loan the company took out in early September for an additional $465 million, raising Endeavor’s debt to almost $5 billion.
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Old 03-16-2020, 01:53 PM
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Darren Stewart and Bartosz Fabinski were scheduled to face different opponents at UFC London on Saturday night before the cancellation of the event, but due to travel restrictions the European duo will now face off against each other at Cage Warriors 113 on Friday night instead.

This is the second contest involving UFC fighters that will take place at the London event on Friday. Earlier on Monday, Cage Warriors president Graham Boylan announced that John Phillips vs. Dusko Todorovic had been moved to the Indigo event after initially being scheduled for UFC London.

The event will be broadcasted LIVE on UFC FightPass as well as TV Networks around the World.
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Old 03-16-2020, 02:06 PM
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Colby Covington just told Ariel Helwani that the fight with Woodley is still being discussed.

Their managements are in talks now with the UFC.


Covington:

"I could make 171 this week. I stay in shape year around. It would be an easy weight cut for me."

"Something needs to be decided by today. I’m hoping this fight gets done by today. If it doesn’t, it’ll be a ball dropped by the UFC."
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  #13  
Old 03-16-2020, 03:53 PM
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And, Done



This weekend's UFC event, as well as 3/28 and 4/11, have been indefinitely postponed per an email from Dana White to all UFC employees.
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  #14  
Old 03-16-2020, 04:01 PM
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Just updated now, Cage Warriors WILL be happening, but has been moved to Manchester in an empty arena.

Last edited by New York Knight; 03-16-2020 at 04:05 PM.
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  #15  
Old 03-16-2020, 04:46 PM
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In addition to postponing the events, the UFC has closed its executive offices in Vegas.
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Old 03-16-2020, 05:21 PM
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Dana on SportsCenter:

"We were ready to go live from Fire Lake Arena, an Indian reservation in Oklahoma, on Saturday. The President now saying no more than 10 in a room. That’s impossible. We can’t do it."

"Khabib vs. Ferguson on April 18 is still on and will happen. No crowd. Whatever it takes. Probably not even gonna be in the United States. But this fight is gonna happen."

"We put fights on every weekend. The fighters want to fight, the fans want to see it. Those guys all want to continue. We will. These three events are postponed, but they will still happen."



Unfortunately, Imo, Khabib / Tony isn't happening any time soon ...
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Old 03-24-2020, 03:36 PM
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Endeavor suspends payouts to its agents and execs due to Coronavirus uncertainty


Liz Mullen of the Sports Business Journal reports that Endeavor has suspended equity buyback payments to agents and executives due to the economic uncertainty related to the coronavirus pandemic. The payments were set to be made April 5th.

Endeavor, the parent company of the UFC, is experiencing financial issues as an intended IPO set for this past fall was postponed. Now, it faces another crisis with many of its businesses in an uncertain holding pattern. Yet, the UFC cashed out many of its investors with a dividend in February.

But with the pandemic causing a stoppage to events around the world, liquidity is becoming a concern. Agents and executives are denied once again the opportunity to liquidate equity in the company.
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Old 03-25-2020, 03:27 PM
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Endeavor is laying off 250 people across agency WME, Ultimate Fighting Championship, and global fashion week producer IMG
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Old 04-01-2020, 12:10 PM
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Endeavor is planning to make company-wide pay reductions of up to 30% to all staffers in the coming weeks as a means of avoiding additional layoffs brought about by the coronavirus.

Endeavor’s chiefs will tell staff Wednesday of the news, and the cuts will affect all businesses, including the WME agency, with the exception of the UFC, which is not wholly owned by Endeavor.

Those earning under $65,000 will not be affected by the pay cuts, but higher earners can lose as much as 30% of their salaries. Additionally, Endeavor president Mark Shapiro will take a 50% pay cut.


Last week Endeavor was forced to make temporary layoffs of 250 employees who were unable to work from home, and Endeavor’s chiefs Ari Emanuel and Patrick Whitesell had already informed staff that they would each be going without a salary for the remainder of the year.

The pay cuts that will be announced to Endeavor staff on Wednesday should help to avoid additional layoffs and is a model that has been followed by other agencies and studios across Hollywood as the coronavirus has brought the industry to a standstill.
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Old 04-07-2020, 07:55 PM
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More behind the push to spit out events ...


Disney is paying UFC ... UFC could earn around $750 million if it can put on the contracted number of events in 2020

The contract requires the company to put on 42 events in 2020.

UFC events on ESPN to date ... 7
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  #21  
Old 04-13-2020, 08:01 PM
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Endeavor's Credit Rating Gets Downgraded on Live Events Exposure


S&P Global Ratings on Monday reduced its credit rating for Endeavor Operating Co. over concerns for its high-borrowing strategy and exposure to the bottom dropping out of its live events market as a result of a global pandemic.

"Federal guidelines in the U.S. for social distancing will remain in place at least until April 30, extending the possibility for a prolonged downturn for event- and entertainment-based businesses," the ratings agency warned in an investors note.

Endeavor — with a $4 billion-plus debt burden owed to Silver Lake Partners and other private equity investors and massive investment in live-events businesses — remains highly vulnerable to the COVID-19 crisis restrictions, given live-event franchises like UFC, which it does not wholly own, the Miss Universe Organization and Professional Bull Riders, the ratings agency argued.

S&P Global said Endeavor began this calendar year with a high debt load, which means an "anticipated significant drop in revenue in 2020 could potentially result in an unsustainable capital structure." Endeavor CEO Ari Emanuel and executive chairman Patrick Whitesell already have announced that they are forgoing the remainder of their compensation for the year, and a planned buyback of equity shares for WME partners has been postponed indefinitely.

The ratings agency downgraded Endeavor's overall credit rating to CCC+, from B, with a negative outlook, while also reducing the issue-level credit rating for WME IMG Holdings LLC's first-lien credit to CCC+, from B.

Both ratings are also on negative credit watch over uncertainty around their live-events schedule in 2020. "We believe the level of financial risk could motivate the company to seek a distressed debt restructuring if coronavirus containment does not occur by midyear so that revenue can begin to recover," the agency added about Endeavor.


The ratings downgrades are a comedown from Endeavor's high-risk, high-return strategy pursued last year when it sought to become Hollywood's first company with a talent agency to go public. But amid doubt over its ability to achieve its $8 billion target valuation, Endeavor changed course on the eve of its intended IPO.
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Old 04-14-2020, 05:47 PM
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UFC is currently targeting May 9 for its next event, the same date originally reserved for UFC 250 in Brazil, although nothing has been cemented with contracts or bout agreements just yet.

California, Texas or Florida potential hosts.

Florida Governor Ron DeSantis issued an executive order declaring “employees at a professional sports and media production with a national audience” an “essential service” in the state. That included any athletes, entertainers, production team, executive team, media team and any others necessary to facilitate including services supporting such production, but only if the location is closed to the general public.”

The order initially gained attention after World Wrestling Entertainment (WWE) was allowed to hold live shows in Florida starting this week.
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Old 04-22-2020, 04:47 PM
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An eye-popping 1/3 of Endeavor's work force will be hit with pay cuts, furloughs or layoffs by the end of May.

The owner of talent agency WME, IMG and stakeholder in UFC, employs 7500 people worldwide.
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  #24  
Old 04-25-2020, 02:58 PM
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Breakdown:


UFC cancelled/postponed 6 events:

UFC London Mar 21
UFC Columbus Mar 28
UFC Portland Apr 11
UFC 249 in Brooklyn (then CA) Apr 18
UFC Lincoln Apr 25
UFC Oklahoma May 2


UFC 250 May 9 in Brazil was postponed, now UFC 249 in Jacksonville is happening.

Fight Night May 13 is a new event added to the schedule.

UFC San Diego May 16 is postponed, now a Fight Night in Jacksonville is happening.

Fight Night May 23 is a new event added to the schedule.


Main Events for those 6 cancelled/postponed events

Woodley/Edwards (Not rescheduled yet)
Ngannou/Rozenstruik added to UFC 249
Reem/Harris set for May 16
Ferguson/Gaethje moved to new date, still UFC 249
Smith/Texeira set for May 13
Hermansson/Weidman (not rescheduled yet)


As of today, the UFC still needs to find room for 1 PPV and 3 Fight Nights to catch up and have the 42 events they scheduled for 2020.
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Old 04-28-2020, 10:50 AM
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