Tag: Proper No. 12

Conor McGregor has not one, but two big fights right around the corner.

On Saturday, June 29, McGregor will return to the Octagon for the first time in nearly three years when he meets former Bellator MMA champion ‘Iron’ Michael Chandler in the UFC 303 main event.

Today, the Irishman’s net worth is estimated to be over $200 million — a majority of that coming from the sale of his popular brand of Irish whiskey, Proper No. 12. Selling a majority stake to Proximo Spirits for $600 million in 2021, McGregor and everyone involved in the product became very rich.

Well, maybe not everyone.

McGregor’s longtime friend and former UFC fighter Artem Lobov has brought legal action against the former two-division champion, claiming that he was promised a 5% stake in Proper No. 12, but never received any money from the sale. McGregor reportedly offered Lobov a flat $1 million which ‘The Russian Hammer’ declined.

Artem Lobov could be entitled to $20 million from the sale of Conor McGregor’s Proper No. 12

As a result, McGregor is being forced to disclose his earnings to the Dublin High Court by Friday, May 10 per a report from The Irish Sun.

McGregor is said to have banked roughly $140 million from the sale. If Lobov successfully makes his argument, he could walk away with 5% of the $600 million the whiskey brand sold for — or $20 million.

Lobov had also filed a lawsuit against Conor McGregor for defamation after ‘Mystic Mac’ dubbed him a “rat” during a social media rant in 2022. However, the Dublin High Court cleared the Irisman of any wrongdoing and closed the case.

Conor McGregor has roughly 90 days to disclose how much he made from the sale of his popular brand of Irish whiskey as part of a High Court action by former friend and UFC fighter Artem Lobov.

In an order made by John Glennon, deputy master of the High Court, McGregor must deliver documentation detailing his portion of the reported $600 million that Proximo Spirits paid the Irishman and two other shareholders to acquire Proper No. 12 in 2021.

The order for discovery is part of an action aimed at enforcing what Lobov’s lawyers allege was an agreement between the ex-sparring partners that guaranteed their client would receive 5% of the proceeds from the sale.

Lobov claims he was the co-founder of the concept to develop a whiskey brand with McGregor and was later “muscled out” of the company. According to Lobov, McGregor had offered him $1 million for his involvement, but Lobov refused. He said the 5% agreement was made orally between the two men at a gym in Dublin around September 2017. “Remember 5% is yours, no matter what,” McGregor allegedly told Lobov during the interaction.

The 5% that Lobov claims he was guaranteed would equate to $30 million. McGregor denies any such conversation took place.

McGregor’s lawyers opposed the application, arguing the documents sought were commercially sensitive. Despite that, the deputy master ordered the discovery of documents relating to McGregor’s share in the proceeds, as well as records relating to McGregor’s interest in the whiskey brand.

“I am very happy with the decision and I now look forward to the case going to trial,” Lobov said in a statement.

Reports suggest that Conor McGregor earned upwards of $130 million when he and the other shareholders sold their stakes to the owners of Jose Cuervo tequila.