According to Bloomberg, ONE Championship is closing in on an additional $100 million in funding that will take the company’s valuation close to the billion-dollar mark. The money will reportedly be used to fund expansion plans in Japan, China, and South Korea.
“ONE: Battle for the Heavens” is set for Shanghai on May 26 and will be the promotion’s tenth event in China. A deal was recently announced with Abema TV in Japan that will see all cards streamed live on the platform, as well as some MMA-related reality TV shows.
Last Friday’s “ONE: Honor of Heroes” in Manila drew a crowd of 18,745 to the MOA Arena in Manila, a record for the promotion in the Philippines. Next month, there will be cards in Jakarta and Shanghai in addition to the show scheduled for Shanghai.
ONE Championship is likely to go public and be listed on a global stock exchange in the next two to three years according to CEO / Founder Chatri Sityodtong. Current investors include Sequoia India and Heliconia Capital Management.
In 2016, Zuffa sold the UFC to a consortium headed by WME-IMG (now Endeavor) for around $4 billion. Meanwhile, the WWE, which recently added former UFC champion Ronda Rousey to its roster, is a publicly listed company which is valued at close to $3 billion.