Opinion
In the wedding episode of Succession, Connor Roy says to his soon-to-be mother-in-law that Ebenezer Scrooge, beneath it all, was actually a great wealth creator.
Scrooge, for those who don’t know the story (shame), is a wealthy but miserly old businessman who employs a significant portion of the town in which he does business. The point Connor is winkingly (but also sincerely) making is that without Scrooge, nobody would have any work.
Sure, he underpays, but at least he employs and pays at all!
I bet that Dana White has a similar mindset.
White has a personal net worth of $500m due to his sizeable stake in the UFC. He is ultra-wealthy. That ultra-wealth is largely built off the blood, sweat, and lost brain cells of fighters whom he pays generally less than 20 per cent of an event’s total revenue and for whom there is no insurance or protection after their careers are over.
Yes, White has made many people middle-class but he has done it in such a way that has made him a true one-percenter.
UFC President Dana White. (Photo by Chris Unger/Zuffa LLC via Getty Images)
Compare that to Matt Damon and Ben Affleck’s new movie, Air. The take home message of that flick, delivered by Viola Davis in her performance as Deloris Jordan, is that the people responsible for the creation of the profits, should actually share in the profits.
She delivers this message in the context of asking Nike to grant Michael Jordan equity in every Air branded shoe that gets sold. Ultimately Nike agrees, Jordan is a very rich man and Nike is the biggest shoe company in the world.
The message becomes more powerful and undeniably more compelling when you consider the thesis of Matt Damon and Ben Affleck’s new production company Artists’ Equity, one of the roughly 200 production companies that assisted with the movie (along with Amazon). The thesis and driving force behind that company is that creators and crew share in the profits of the movie.
The company does not pay the individual, everybody shares in the success of the product.
I wonder if Francis Ngannou felt like getting out from underneath Scrooge when he left the UFC and Dana White?
News recently emerged that Ngannou signed a deal with the PFL, probably the second-biggest global MMA promotion in the world after the UFC. That is not necessarily the big news.
The big news is the contract that he signed. The details of the deal are as follows: it is a short-term deal for only two or three fights; guarantees a high seven-figure purse for each fight; a guaranteed portion of an event’s profits; a signing bonus or salary to serve as a PFL brand ambassador; the right to bring with him his own sponsors; non-exclusivity which allows him to box; no clauses that trigger extensions; and a minimum $1 million salary for his opponent.
(Photo by Louis Grasse/PxImages/Icon Sportswire via Getty Images)
For context, the UFC literally would not allow one of the above contractual terms. By way of example, Georges St Pierre, perhaps the greatest UFC fighter in history, sought in 2021 to box Oscar De La Hoya for charity. His last fight under the UFC banner was in 2017. However, despite being long-retired from MMA, the UFC would not release him from his contract and would not grant him the non-exclusivity that Francis has just obtained.
Aside from the poor money, the UFC simply does not offer short-term or flexible contracts. Holly Holm, at 41 years old, signed a six-fight UFC contract. She will not see the end of that contract, but she will also not fight for anyone else until it is done.
So, Francis won?
Today, yes, Francis won. He won the headlines. He has basically achieved what he has sought to achieve, even as the UFC and some UFC fighters have sought to sling mud at a man of genuine principle of athletic excellence.
The real question is, what will the impact of this be?
Will it be like Michael Jordan, where he truly did blaze a trail for other elite athletes to share in the profits of products with their names on it?
Jordan truly broke the mould in that sense. Where Larry Bird and Magic Johnson wore Converses, Jordan wore Jordans and got a piece of every Jordan shoe sold. The Jordan model, for players at a certain level, is now the norm.
Or will it be more like boxing?
Main event boxers have long shared in the profits of the events they participate in, have the flexibility to sign short-term promotional contracts (as Ray Leonard and more recently Devin Haney have done), and generally, at a certain level, make significantly more money than UFC fighters of a comparable stature – but that has not stopped the game from chewing them up and spitting them out.
In one of the greatest boxing books of all time, The Life and Crimes of Don King, Jack Newfield said while talking of Larry Holmes that “boxing is the only jungle where the lions are afraid of the rats.”
Perhaps that is no longer true. Perhaps MMA has joined that jungle, even with White’s new and chemically improved body. Or perhaps Ngannou will have blazed a trail for MMA fighters to be treated more fairly by an organisation that seems to both resent and require them.
Let’s get ready to rumble! Pick a fighter and place your bets with PlayUp for great odds. Chances are you’re about to lose. Set a deposit limit.
Nikita Tszyu defended his Australian super welterweight crown. But a fightback from opponent Danilo Creati threatened to spoil everything in the sixth round.
Nikita Tszyu has overcome a nasty mid-fight moment to score a unanimous points win over Danilo Creati and retain his Australian super welterweight title…
A bloodied Tim Tszyu has been cruelly denied in his quest to emulate his legendary father Kostya and become a unified world boxing champion…
Liam Wilson has suffered further heartbreak in Arizona, the Australian boxer losing his super-featherweight world-title fight against Mexican Oscar Valdez. In front of a…
Tim Tszyu has the chance to emulate his legendary father as a unified world boxing champion after the stakes were dramatically raised for his…
Australia's Alexander Volkanovski has lost his UFC featherweight title to Ilia Topuria, with the Spaniard scoring a stunning second round knockout in the main…
