The UFC White House card is still four months away but the costs for the event could potentially skyrocket past $60 million once it’s all said and done.
The once-in-a-lifetime event planned for June 14 is going to be a very expensive endeavor for the UFC because the promotion owned and operated by TKO Group Holdings is absorbing all of the costs associated with the card. That includes effectively building an arena on the south lawn of the White House as well as fighter salaries and other costs for the event.
TKO Group Holdings president and chief operating officer Mark Shapiro confirmed previous reports that the UFC White House card is expected to cost around $60 million but the price could go up by the time the card kicks off in June. That said, Shapiro added that the UFC is hoping to recoup at least half of the money through sponsorships and endorsements with numerous businesses already lining up to take part in the historic event hosted by President Donald Trump.
“At the moment, the UFC event at the White House is slated to cost upwards of $60 million,” Shapiro said during quarter financial call on Wednesday. “I think by the time all is said and done with the event and what we pay the fighters and the fan fest that we’re going to have, that could move north. It’s definitely not moving south. It could move north. Bottom line, it’s still a moving target.
“We are working to determine, on a parallel track, a package of inventory in and around the weekend of events we can monetize, primarily with corporate partners. [Business to business] players that will offset half of the spend. Even if that $60 [million] goes up or rides up on us, we believe we can offset half of the spend. Today, we see as $60 [million], offsetting $30 [million]. Now I would mention we have several current and prospective partners that are pursuing multi-year partnerships with TKO assets that likely will be inclusive of the White House event. We have a lot of current and prospective partners that would like to be involved and inquiring about inventory as part of their greater partnership deals they either already have or are negotiating with us for the future.”
UFC CEO Dana White previously stated that the White House event would be one of the most expensive endeavors in company history, blowing past the $20 million plus the promotion spent on UFC 306 at the Sphere in Las Vegas.
But Shapiro believes the costs incurred promoting the White House event are really a pittance compared to the return on investment from holding a historic event that will likely never be duplicated
Add to that, Shapiro said no matter what the final price tag is for the UFC White House event, TKO doesn’t expect to make any money from the card while promoting a show to help the American 250 celebration kicking off later this year.
“But I want to be clear about something — we will not profit from the White House event independently,” Shapiro said. “We will not be making money on America’s 250th anniversary.
“This is an investment for the long term. This is about earned media. This is about sampling, new fans, casual viewers, a spectacle on a stage that will ultimately expand our audience, our viewership and our success on Paramount+.”
As of now, the UFC still hasn’t announced any fights for the White House card, although most of the logistical planning for the event has already been put in place.
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