Jake Paul Invests in UFC, Reveals Plans To Make Changes From Within
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Jake Paul recently called out Dana White in a series of Tweets regarding his potential UFC debut. He voiced that he would only make the move over from boxing to the UFC if Dana White agreed on improving the conditions of fighters.
Now it appears that Paul is taking his demands one step further. To show just how serious he is regarding the UFC, Paul has invested in the UFC with his business partner Geoffrey Woo. Paul took to Twitter to make his announcement stating, "I've invested in EDR (UFC) stock with my partner @geoffreywoo 2 focus on UFCs ESG standards relating to fighters. We believe EDR can drive long-term economic value by increasing UFC fighter pay & providing them healthcare. Reaching out to @EngineNo_1 to partner on this 'endeavor.'"
Woo also took to Twitter to echo Paul's sentiments as well as highlighting UFC's flaws, "UFC has faced a rising chorus of criticism for the exploitation of its athletes — the [heart] of biz. The ratio of revenue going to athletes vs. owners & leagues is well below industry standard. This disparity hurts long-term shareholder value & this is not going to magically change." He also added, "We believe the best way to accelerate this inevitable revolution is to lead it from within the UFC as co-owners & impact investors. We will use our investment stake to rally fans, athletes, fellow shareholders, and management to do the right thing."
It remains to be seen if Paul's stake in the UFC will be a catalyst for change.
I’ve invested in EDR (UFC) stock with my partner @geoffreywoo 2 focus on UFCs ESG standards relating to fighters. We believe EDR can drive long-term economic value by increasing UFC fighter pay & providing them healthcare. Reaching out to @EngineNo_1 to partner on this “endeavor”
— Jake Paul (@jakepaul) January 25, 2022
My partner Jake has lead the way in changing the business of combat sports by not just talking about it, but being about it — fighter pay, healthcare, & championing women’s sport. And today is our next step in our vision of revolutionizing the industry.
— GEOFFREYWOO Ξ (@geoffreywoo) January 25, 2022
Jake is the archetype of the future, where individual transcends the machine. This is happening across all sectors — media, entertainment, & tech start ups where dynamic, innovative individuals & creators are bargaining toe-to-toe w the owners, the institutions, and the academy.
— GEOFFREYWOO Ξ (@geoffreywoo) January 25, 2022
Who am I? I come from Silicon Valley & web3/crypto. Skin in the game, shared equity, and long-term alignment is the underlying incentive model that made Silicon Valley and crypto the most impactful business models of the last 20 years. We intend to apply these models to the UFC.
— GEOFFREYWOO Ξ (@geoffreywoo) January 25, 2022
It’s not just the right thing to do, but the profitable one. @danawhite @ufc @WME
cc: @jakepaul @antifundvc @axios @SquawkCNBC @emilychangtv @meliarobin @karaswisher @TechCrunch @espn
— GEOFFREYWOO Ξ (@geoffreywoo) January 25, 2022
In other sports news, Boston Red Sox legend David Ortiz has been elected into the Baseball Hall of Fame.
