Skip to main content

Sports Business : Owners of WME IMG & UFC, Endeavor seeks emergency $250M funding

There appears to be no end in sight for Endeavor’s financial woes.

One of the world’s biggest sports and entertainment agency Endeavor is looking to raise US$250 million by June in a bid to offset its losses during the coronavirus pandemic, according to the New York Post.

With the entertainment industry in near-shutdown, the company’s sports properties such as the Ultimate Fighting Championship (UFC) unable to hold events and IMG’s rights portfolio delivering minimal returns at present, Endeavor’s business is severely hamstrung. Company is also reeling under huge debt & liabilties of $7.2billion.

Also Read:https://www.insidesport.co/sports-business-endeavor-wme-img-credit-rating-downgraded-by-sp-due-to-massive-debt/

Company’s credit rating also saw a drop from financial services company Moody’s. Moody’s, which joined S&P Global Ratings in downgrading Endeavor sizeable debt from stable to negative, claimed that the company “has maintained very high leverage levels and issued additional debt to help fund acquisitions historically.”

Also Read: https://www.insidesport.co/sports-business-more-staff-and-pay-cuts-for-endeavor-wme-img/

Endeavor — a company that includes subsidiaries such talent agency WME IMG, On Location Experiences, Miss Universe Pageant, Professional Bull Riders, and the Ultimate Fighting Championship (UFC) — is saddled with a 4.6 billion debt burden owed to Silver Lake Partners and other private equity investors over the purchase of the UFC in 2016.

The UFC reaped a reported $900 million in revenue in 2019 (only 16% of which was paid out to fighters). However, given that the promotion is yet to resume its live events schedule, Endeavor has lost yet another important source of revenue at a crucial time.

Current Investors Silver Lake is supporting as lead search for investment in agency giant. Silver Lake is reportedly speaking to other parties about investing and could also invest itself, with a US$250 million figure presented to potential suitors.



https://ift.tt/3cXuHzR

Comments

Related Posts

'Kuldeep Yadav was the X-factor India missed' – Former Australian captain questions team selection in England series

Michael Clarke believes India missed a trick by not playing Kuldeep Yadav in the Anderson-Tendulkar Trophy, suggesting his 'X-factor' could have helped take 20 wickets. He lauded Ravindra Jadeja and Washington Sundar's exceptional all-round performances, highlighting their significant batting contributions alongside their bowling efforts, which cemented their places in the team. from Sports News: Cricket Live Scores, Latest Sports News, Football, NBA, NFL, WWE, NHL, MLB News & More https://ift.tt/LCtMOGm

KL Rahul's unique birthday wish for 'Ajja' Suniel Shetty

KL Rahul shared a heartfelt birthday message for his father-in-law, Suniel Shetty, while reflecting on India's impressive 2-2 series draw against England. Rahul highlighted the team's resilience in the absence of key players like Virat Kohli and Rohit Sharma, emphasizing the significance of the result for Indian Test cricket's future. from Sports News: Cricket Live Scores, Latest Sports News, Football, NBA, NFL, WWE, NHL, MLB News & More https://ift.tt/YhuMKdF

Who is Saaniya Chandok, Arjun Tendulkar's fiancee after private engagement

Arjun Tendulkar, son of Sachin Tendulkar, is engaged to Saaniya Chandok, granddaughter of businessman Ravi Ghai, in a private ceremony. Saaniya is a Director at Mr. Paws Pet Spa & Store and comes from the Ghai family, known for their ventures in the hospitality and food sector, including The Brooklyn Creamery and Baskin Robbins. from Sports News: Cricket Live Scores, Latest Sports News, Football, NBA, NFL, WWE, NHL, MLB News & More https://ift.tt/DEvWnBL

'Are we still stuck in the colonial era?' - Pathan on Gambhir vs The Oval pitch curator saga

Tensions flared ahead of the final Test between India and England as a heated argument erupted between India's coach, Gautam Gambhir, and pitch curator Lee Fortis over pitch access. Irfan Pathan's social media post ignited a debate about double standards, questioning why England's coach had pitch access while Gambhir did not. from Sports News: Cricket Live Scores, Latest Sports News, Football, NBA, NFL, WWE, NHL, MLB News & More https://ift.tt/gwZFX1m

England cricketer blocked from promoting OnlyFans in The Hundred

Tymal Mills, the England fast bowler, was prohibited by the ECB from displaying his OnlyFans logo on his bat during The Hundred in August 2025. The decision was influenced by the family-friendly nature of the tournament, as OnlyFans didn't align with it. from Sports News: Cricket Live Scores, Latest Sports News, Football, NBA, NFL, WWE, NHL, MLB News & More https://ift.tt/WtlM5kc