ONE Championship cuts 20% of staff after raising another $70M USD
Ant Walker and Patrick Auger discuss ONE Championship’s recent press release that specifically focused on adding “another US$70 million to its war chest.”
Somewhat hidden in the press release, however, was one sentence that revealed a lot more about the promotion’s current state of affairs: “ONE Championship has also streamlined operations, including a 20% reduction of total worldwide headcount.”
Per a recent report by John S. Nash for Bloody Elbow, ONE Championship’s losses skyrocketed to $126 million in 2018, growing from $66.7 million in 2017.
Making matters worse, reports from veteran journalists including Josh Gross indicate “that ONE actually parted ways with closer to 50%-60% of its workers, which includes all freelance contractors.”
As ONE Championship scrambles to avoid negative attention, Ant and Patrick dive into the details about these recent developments and more.
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