Jake Paul buys shares in UFC’s parent company as budding boxer pledges to help improve fighters’ pay
Jake Paul buys shares in UFC parent company as budding boxer pledges to help improve fighters’ pay amid contractual deadlock of MMA promotion with Francis Ngannou
- Jake Paul has bought shares in the UFC’s parent company, Endeavour
- Paul, 24, has long had a tumultuous relationship with UFC President Dana White
- The novice boxer has argued for more fighting pay for UFC athletes
- He hopes his latest investment can help give fighters a bigger share
Jake Paul has bought stock in the UFC’s parent company as he continues to advocate for increasing fighters’ pay among athletes within the organization.
Paul, 24, has long argued that UFC fighters don’t get their due, and has endured a bitter back and forth with the organization’s president, Dana White, in recent months.
And in an effort to make changes to the UFC’s pay structure, Paul has completed the purchase of shares in Endeavor Group Holdings – the company that owns the UFC – along with investment partner Geoffrey Woo.
Jake Paul has announced his purchase of shares in the UFC’s parent company, Endeavour
“I have invested in EDR (UFC) stock with my partner @geoffreywoo 2 focus on UFC’s ESG standards regarding fighters,” Paul tweeted on Tuesday.
“We believe that EDR can increase long-term economic value by increasing the pay of UFC fighters and providing them with health care.
Reach out to @EngineNo_1 to collaborate on this ‘effort’.
Paul and Woo plan to persuade other activist and impact hedge fund investors to get involved, with the latter claiming there is a difference in the ratio of athletes’ earnings to owners.
Paul, 24, has endured a bitter back-and-forth with UFC president Dana White over paying fighters
Now the American says he wants to increase the pay of UFC fighters after becoming a shareholder
“My partner Jake has been at the forefront of changing martial arts by not just talking about it, but being about it – fighter pay, health care and champions of women’s sports,” Woo said.
And today is our next step in our vision to revolutionize the industry.
‘UFC has faced an increasing chorus of criticism for the exploitation of its athletes – the [love] by [the] biz.
“The ratio of revenue going to athletes versus owners and competitions is well below industry standard.
“This inequality hurts long-term shareholder value and it won’t magically change.
The move comes amid contract deadlock between the UFC and star fighter Francis Ngannou
“Jake is the archetype of the future, where the individual transcends the machine.
This happens in all sectors: media, entertainment and tech startups where dynamic, innovative individuals and creators negotiate head-to-toe with the owners, the institutions and the academy.
“We believe the best way to accelerate this inevitable revolution is to lead it out of the UFC as co-owners and impact investors.
“We will use our investment interest to drive fans, athletes, co-shareholders and management to do the right thing.”
Ngannou and the UFC are in talks with no sign of an agreement being reached
Paul’s latest move comes amid a contract standoff between the UFC and its heavyweight champion, Francis Ngannou.
The Cameroonian, 35, refuses to sign a new deal, saying the UFC’s terms put fighters “in captivity.” He also suggested that the UFC sue his manager, Marquel Martin, for allegedly having conversations with Jake Paul’s business manager, Nakisa Bidarian.
“I walked into the room and waited for my manager, my coach,” Ngannou told The MMA Hour. ‘And they said, ‘Wow.’ I’m like, “What’s going on?”
“They told me they just received an email from the UFC saying they are going to file a lawsuit” [Martin] for talking to this man, Nakisa.
‘Yes. I’m like, “Who is Nakisa?” I wouldn’t recognize him if you put him down in front of me.’