UFC held its UFC Freedom 250 event on Sunday, June 14th, on the South Lawn of the White House in Washington, D.C. The event was headlined by Justin Gaethje defeating Ilia Topuria to win the UFC Lightweight Title.
TKO President and COO Mark Shapiro mentioned in an interview last February that they anticipated losing money on the event. This expectation was confirmed, as TKO CFO Andrew Schleimer reported to investors that the company incurred a loss of approximately $30 million from running the event.
Schleimer said, “Given the event’s profile, which as anticipated, resulted in an approximate $30m loss, our margins at UFC as well as on a consolidated basis were meaningfully impacted.”
Shapiro had also previously said that the event was a “long-term investment,” stating, “We will not profit from the White House event independently. We will not be making money on America’s 250th Anniversary. This is an investment for the long term. This is about earned media, sampling new fans and casual viewers, a spectacle on a stage that will ultimately expand our audience, our viewership, and our success on Paramount+.”
The event was overshadowed by several controversies, including fighter Josh Hokit referring to former First Lady Michelle Obama as “a man” after his fight. Nonetheless, the event drew 34 million viewers worldwide.
