There have been a lot of people and companies that have been hit hard financially during the coronavirus, with one of those companies being Endeavor, who is the UFC’s parent company.
The company, which has already laid off or furloughed a third of its staff during the pandemic, has gotten some help in the form of a loan.
A report from the Wall Street Journal (via Bloody Elbow) is stating that Endeavor has gotten a $260 million loan, which will supplement a previous loan of $2.8 billion, with the interest rate being under 11%. The biggest hit that Endeavor has suffered from the coronavirus pandemic is from their live entertainment sector, which has accounted for the companies 70% decline in revenue.
Not all is doom and gloom for the UFC’s parent company, as the deal with ESPN is expected to bring in somewhere between $150 and $200 million this year alone, which is going to be a significant boost to their struggling profit margin. The UFC themselves just returned to action this past weekend after taking nearly two months off due to the pandemic with UFC 249, which reportedly brought in over 700,000 pay-per-view buys on ESPN+.