Want more from Front Office Sports
in your search results?
Blockchain application platform VeChain has secured a five-year, $100 million deal with mixed martial arts organization UFC.
As part of the deal, UFC — owned by sports and entertainment conglomerate Endeavor — will provide VeChain with “unprecedented integration” into the organization’s assets.
- VeChain will hold title rights to UFC’s official fighter rankings.
- It will see its brand represented inside the UFC octagon at all events.
- VeChain will have visibility across UFC’s digital and social channels.
- The deal exposes VeChain to roughly 900 million households across 175 countries.
The two new business partners will also work together to create custom and original content.
VeChain’s pricy sponsorship deal runs contrary to the company’s previous business practices. The company spent only $4 million in Q1 2022 — and less than $660,000 of that amount was allocated toward marketing.
UFC is no stranger to cryptocurrency and the blockchain. In July 2021, the organization signed a long-term kit deal with Crypto.com, a Singapore-based exchange with 50 million customers.
Rich Parent
Endeavor generated $1.47 billion in revenue in Q1 2022, a 37.8% increase year-over-year. The holding company posted a net income of $517.7 million during the quarter behind sellouts at all of UFC’s pay-per-view events and the 80% sale of its production house, Endeavor Content.
The sale of its majority stake in that business paid Endeavor around $464 million.
Endeavor expects full-year revenue in FY2022 to range between $5.2 billion and $5.5 billion.
Download the FOS App
The business of sports, in your pocket.
Scan the QR code to get the app now.
