The founder of the Saudi Arabian-backed league, Professional Fighters League, is on a talent acquisition spree.
Negotiations follow the $100mn investment made in August by Saudi Arabia’s Public Investment Fund in PFL. The league was founded by US entrepreneur Donn Davis in 2017. It is looking to compete with Endeavor’s Ultimate Fighting Championship which has long been the dominant force in mixed martial arts.
UFC is at the forefront in ensuring that mixed martial arts are popularized by mainstream audiences, and will generate about $1.1bn of revenue in 2022.
Three people with knowledge of the talks said that the talks between PFL Bellator are continuing. Paramount Global Entertainment, the company that owns Bellator did not respond when asked for a comment.
PFL’s roster includes more than 70 fighters. The PFL could increase its roster by acquiring Bellator, as it competes with UFC to expand Saudi Arabian influence in the sport.
Davis refused to confirm the talks, but said that his league was looking to add talent to its roster. It has already attracted some big names, such as Francis Ngannou (former UFC heavyweight champ).
Davis stated that “our goal would always be to obtain the best talent on the market.”
Dana White, chief executive of UFC, dismissed last month the Kingdom’s investment into PFL. This was the first time a Saudi sports firm owned by PIF invested in a Saudi company. He claimed that the league “burned cash” and asked why Saudi Arabia would make an investment in it. Davis stated that his company raised approximately $500mn during its last round of financing. He didn’t comment on PFL’s losses, but acknowledged the company was in an “investment and growth mode.”
“UFC has entered harvesting mode. They are doing very well. “But PFL is brand new,” he added. PFL’s goal is to co-lead [with UFC] the mixed martial arts. “There will be more than just one large company.”
PIF may also increase its investment. According to two people who are familiar with the issue, the sovereign wealth fund studied mixed martial arts investments before choosing PFL.
One person said that they “didn’t wish to be number two”.
PFL will create a Middle East & North Africa League based in Saudi Arabia. This league would join five other international leagues based in Europe, Australia and Latin America. Saudi Arabia will also host PFL fights on pay-per view, including Ngannou’s match against influencer and boxer Jake Paul in the coming year.
The PFL investment is part of a wider Saudi push into sports, which has seen the Kingdom snap up big names in football like Cristiano Ronaldo . PIF is also involved in controversial discussions about a partnership between its LIV golf league and the PGA professional tour.
Saudi officials claim that despite critics’ claims that the country has been guilty of “sportswashing”, they are part of an economic diversification program that includes attracting tourism and investment to the country.
Davis said that the reaction to the Saudi investment has been positive over the last few weeks.