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Monday, Jun 15, 2020

ONE Championship Receives $70 Million Through Latest Round of Funding

By FCF Staff

ONE Championship has announced that the Asia based promotion has secured $70 million dollars in its latest round of funding.

The company, which promotes various types of combat sports under its banner, recently announced the funding via a press release.

Hua Fung Teh, the Group President of ONE Championship, was quoted saying the following.

“I am thrilled to announce that ONE Championship closed another round of funding a few weeks ago with existing institutional investors as well as a new institutional investor. I am full of gratitude for this strong vote of confidence amidst the worst global economic crisis in 100 years. With 9 figures of cash on the balance sheet and a streamlined organization, ONE Championship looks forward to continuing to delight our fans around the world with more heroes and new experiences for many years to come.”

With the additional $70 million, ONE reportedly has a total capital balance of US$346 million. The company has also announced that it has laid off  20% of its workforce on account of financial hits ONE has taken via the coronavirus pandemic. The promotion has not held an event now since February.

posted by FCF Staff @ 10:33 am
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