ONE Championship just got a huge boost to its ‘war chest.’
Asia’s largest global sports media property announced on Monday, June 15, that it has raised new funding despite the sports world being put to a halt due to the COVID-19 pandemic.
Though they did not disclose the names of the investors, ONE has raised US$70 million over the past few weeks. The promotion has closed a round of funding with existing investors and a new one, bringing their total capital to US$346 million.
“I am full of gratitude for this strong vote of confidence amidst the worst global economic crisis in 100 years,” Hua Fung Teh, Group President of ONE Championship, said.
“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.”
The latest development comes in line with ONE’s global expansion.
In 2018, the promotion signed a three-year broadcast deal with Turner Sports (TNT, B/R Live) to make their shows accessible to fans in the USA.
Just last October, ONE held its biggest spectacle yet, ONE: Century. It was a double-header showcase with a morning event catering to the audience out West, and an evening show for the fans in the East.
The organization is also doing everything to get their shows up and running as they have taken a very careful approach to dealing with the COVID-19 pandemic.
It has been nearly three and a half months since ONE’s last show, ONE: King of the Jungle, but with countries in Asia slowly opening up, it should not be long until the promotion’s beloved athletes return to the global stage.
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