BBN writer Anish Parekh questions how Zuffa will operate their business in boxing
“Boxing doesn’t run a real business. Every event is a going out of business sale… You know what I mean? We’re just trying to get as much money as we can from you guys, then we’re out of here…” Zuffa Boxing Promoter, Dana White.
It’s a remarkably accurate statement summing up the boxing business and one that can be assumed will be weaponised against White during every wrong turn he takes as he embarks on the treacherous path to success in the boxing world.
His UFC business model became the most successful in MMA by bringing the best mixed fighters in the world under one umbrella, acquiring its rivals, and dismissing boxings age old tactic of utilising a flawless record to lazily promote the next big superstar, as gutsy performances during losses would enhance a fighters reputation rather than diminish it.
This was a welcome breath of fresh air, which attracted disillusioned followers of boxing and appealed to a new young fan base who were equally impressed by UFC’s slick production value, which massively contrasted boxings dated and stale looking shows.
Then, on the weekend, news broke that Conor Benn would be leaving his long-term promoter, Matchroom to join White at Zuffa Boxing in what is reported on being for a one fight deal worth over £10,000,000.
The business of boxing rarely offers many shocks, but this was a big surprise.
An outpouring of outrage flooded social and traditional media platforms with many questioning Conor Benn’s morals after he abandoned the promoter whose relationship with him went beyond one that was platonically business.
It is hard to agree with such sentiments especially in a sport which, by its very nature, is morally and ethically ambivalent. Couple that with the filthy business of boxing where a promoter essentially profits from the blood of warriors spilt on the canvas and it becomes hard to feel sorry for Matchroom.
However, it is understandable why people feel disappointed in Benn, considering Eddie Hearn staunchly backed his charge during his controversial failed drug test saga, not only promoting Benn back to the top of the sport, but also by providing a PR masterclass in washing his reputation clean and making him a household name that people are interested in again.
Benn should have given Hearn the courtesy of at least calling him to inform him of his career developments. It’s fair enough that, from a business point of view, he doesn’t owe any loyalty to Hearn, but there could have at least been a show of respect.
Then comes the question, what is next for Benn at Zuffa? At 29 years old, he is in the prime of his career and needs to capitalise on the momentum of his victory over Christopher Eubank Jr.
But what plan could be so spectacular that it warrants a huge payday for a fighter that has never even fought for a world title? A one fight, 8-figure deal is intriguing yet strange, as if Zuffa want to takeover boxing, they will need to attract superior talent to Benn and offer similarly large sums of cash.
Of course, a less convoluted boxing landscape would be welcome, but throwing obscene amounts of money around has not been a historically successful business model as negotiations in the boardroom become as reductive as “X fighter earned this much in his last fight, I’m a bigger name, I deserve even more,” driving market prices higher and higher until perhaps even the Saudis feel they have reached the limit of what is reasonable.
Either way, the developments of the past week have been interesting and with murmurings of further surprises to come, only time will tell if Zuffa Boxing are here to revolutionise the sport or become institutionalised by boxing and run events that are like closing down sales.
Things you didn’t know about Conor Benn