- Donn Davis says international investment “would be a good thing” for the company
- PFL was valued at US$500m after 2022 funding round
The Professional Fighters League (PFL) is eyeing sovereign wealth fund investments to help fuel the mixed martial arts (MMA) promotion’s global growth.
Founded in 2017 and based in the US, the PFL held its first event in 2018 and has since branched out into Europe and also plans to expand into Africa. The bulk of the company’s investment has come from America, but the PFL’s founder and chairman Donn Davis wants to bring in new partners from overseas.
“We are a global league and a global sport,” Davis said in an interview. “Would we like to have investors from outside of the United States? Yes. Would that be a good thing for our company? Yes.”
Davis did not specify any specific sovereign wealth funds but Saudi Arabia’s Public Investment Fund (PIF) has been linked with combat sports investment. The kingdom has already hosted various high-profile boxing bouts, including world title fights featuring Britian’s Anthony Joshua. The country was also keen to host a blockbuster heavyweight night featuring Joshua, Deontay Wilder, Oleksandr Usyk and Tyson Fury, though those plans have been put on ice.
In May 2022, the PFL raised US$30 million in a Series E equity funding round led by Waverley Capital. CNBC reported that the investment valued the promotion at US$500 million, up from US$400 million in 2021.
Other investors in the round included former Major League Baseball (MLB) star Alex Rodriguez. Ares Capital, Elysian Park Ventures, Luxor Capital, Knighthead, Legends, and Swan Ventures have also previously invested, as have Washington Nationals owner Mark Lerner, Baltimore Ravens legend Ray Lewis, and rapper Wiz Khalifa.
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The PFL knows it must expand if it is to compete with the more established Ultimate Fighting Championship (UFC) and ONE Championship. The latter of those promotions has significant backing from the wealth of its native Singapore.
The PFL has already been busy as it looks to broaden its fanbase across the globe. In May, the company signed former UFC heavyweight champion Francis Ngannou to support its march into Africa. Davis says securing the services of the 36-year-old is like “if Patrick Mahomes or Joe Burrow left the NFL”.
In addition, boxing world champion Savannah Marshall will compete in the women’s PFLW and online influencer Jake Paul has been handed a PFL equity stake as part of a multi-year fight deal.
Having the resources of a sovereign wealth fund would give the PFL even greater resources to realise its international aspirations.
