Chatri Sityodtong addresses financial reports: “Profitability will be within three years” for ONE Championship
ONE Championship’s Chairman and CEO Chatri Sityodtong sat down with Ariel Helwani to discuss the new financial reports regarding the Singapore-based organization. According to its ACRA filings, the organization had over one hundred million in losses in 2021. On The MMA Hour Sityodtong that this has to do with growing and investing in the future.
Chatri Sityodtong compared the growth of ONE Championship to Elon Musk and Tesla, he said:
“If you just take a look at that Tesla story, let’s say. You know, I think Elon, I don’t know how many billions of dollars he lost, but it’s not losing to him. He was investing in factories, investing in new batteries, investing new technology, investing in scaling his production facilities, right? It’s the same equivalent, except for us, it’s brand, product, platform, roster and geography. So again, inherently sports properties are massively profitable, when you reach the scale of NBA, NFL.”
ONE Championship has been growing as a sports property as the same financial filings show an increase in revenue.
Chatri Sityodtong rebuffs Bloody Elbow
ONE Chairman and CEO Chatri Sityodtong also addressed the original reports from Bloody Elbow,
ONE Championship CEO Chatri Sityodtong responds to Bloody Elbow report detailing disclosure of $110 million loss to financial regulator. #TheMMAHour pic.twitter.com/h0IAXZSDIj
— MMAFighting.com (@MMAFighting) October 12, 2022
“I will say that the internet is a dangerous place and you shouldn’t uh believe everything you read, and there is a lot of factual errors and inaccuracies you know? Uh, but that I mean, um, I’ll just say that we have some big news that I’m announcing and um, that’s, I’ll leave it at that,” Sityodtong said. “Some exciting news and yeah, I mean uh I’ll leave it at that. I’ll just say like look, the internet is a dangerous place if you believe everything you read, especially from less than uh… How can I say it politely? I would yeah, I would just leave it at that.”
In total, ONE has accumulated $383 million in losses as of last December.
