Singapore-based mixed martial arts and kickboxing promotion, ONE Championship, headed up by Chatri Sityodtong, have reported a record-high loss of $110 million in the year 2021 in their annual ACRA (Accounting and Corporate Regulatory Authority) fillings, increasing their total losses to $383 million.
As per an initial report from Bloody Elbow reporters, Anton Tabuena, and John S. Nash, ONE Championship have reported a massive loss of $383 million up until December 31. 2021, with $110 million of those losses reported in that year.
Previously, the promotion’s leader, the aforenoted, Sityodtong, refuted reports of major financial losses for the organization, urging onlookers to take reports with a pinch of salt, as well as maintaining the “truth” will come out over time.
“I’ll just say like look, the internet is a dangerous place if you believe everything you read,” Chatri Sityodtong said. “There was tons of inaccuracies, tons of errors, it’s not even like one or two, if it were just like one or two I would point it out. I mean, like it’s not worth addressing. Again, it’s like I said, um, like, I like to let the truth speak over time.”
Beyond their record high losses, ONE Championship did, however, report a $67.7 million increase in revenues for 2021, with the majority of that revenue increase of 19% percent on the previous year, coming from broadcast rights.
ONE Championship recently inked a broadcast deal with Prime Video
The promotion, who recently inked a broadcast deal with Amazon and Prime Video, parted ways with former UFC lightweight champion, Eddie Alvarez of note late last month – with the Philadelphia veteran ending his four-fight tenure with the organization.
ONE Championship is also home to former undisputed UFC flyweight champion, Demetrious Johnson, with the record-setting Kentucky favorite clinching the promotion’s flyweight crown with a spectacular, highlight-reel fourth round flying knee KO win over Adriano Moraes in the pair’s rematch in August.