The UFC: Brink of bankruptcy (2000) → $10 billion franchise (2021)

The UFC (Ultimate Fighting Championship) is one of the most interesting businesses to emerge in the last thirty years. With a unique business model and insane brand recognition, this company has defied all expectations, and grown into one of the premier sports leagues in the world.

The SCRIPT:
Since the dawn of recorded history, many things have changed about society. But one constant that has remained are combat sports. Humans have always had a desire to compete in feats of strength and agility against an opponent, and the viewers have always loved watching. Wrestling is considered to be a universal sport - it was present in almost every society that has ever existed. We have found cave drawings of the sport dating back nearly 15,000 years, as well as hieroglyphs from ancient egypt and babylonia and statues from ancient Greece.

Other forms of combat have been present for similar amounts of time. Our first record of boxing dates back to nearly 3000 BC in ancient Sumer. In China, a sport that combined boxing and wrestling called Lei Tai was incredibly popular during the Song Dynasty, which began in 960 AD. Europe had many forms of combat sports, one of the most popular being jousting.

Today is no different, except now our combat sports are televised. Boxing is one of the most popular and lucrative sports, with the top athletes netting hundreds of millions of dollars in earnings. Floyd Mayweather is considered the greatest boxer of all time, and holds the record for the largest purse from a single fight, in which he earned $280 million for a fight against lightweight Conor McGregor. Conor also earned a sizable purse from the night, walking away with $130 million.

One up and coming sport is mixed martial arts, or MMA for short, and the leading organization is the Ultimate Fighting Championship, which started bringing televised fights to viewers in the nineties. It has been a long battle for the UFC to absorb and retain viewers away from more popular sports, but now, in 2021, it appears that the UFC has finally found its way.

They didn’t achieve this without a lot of hard work by many organizers and athletes, but there has been plenty of scandal along the way. One of the most common critiques of the sport is that the fighters are paid far less than athletes in other sports. The UFC has endured many lawsuits from previous fighters, claiming that they were taken advantage of by the organization, with profits not being evenly shared between the fighters and the organizers.

Let’s take a closer look at the history of the UFC and its relationship with its fighters… does the UFC exploit its fighters? Keep watching to find out.

SOURCES:
https://docs.google.com/document/d/1p34yo-ObZWL8uYtJyR06XVmlSKPGatevxps3DuQ7RAs/edit?usp=sharing

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BUSINESS CASUAL:
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ECONOMICS EXPLAINED:
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GRAHAM STEPHAN: https://www.youtube.com/c/GrahamStephan

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