ONE Championship announced on June 15, 2020 that it has added US$70 million to its war chest. This brings the Singapore-based martial arts organization’s total capital to US$346 million.
Also, ONE Championship has streamlined operations. These include a 20 percent reduction of total worldwide headcount.
“I am thrilled to announce that ONE Championship closed another round of funding a few weeks ago with existing institutional investors as well as a new institutional investor,” ONE Championship group president Hua Fung Teh stated. “I am full of gratitude for this strong vote of confidence amidst the worst global economic crisis in 100 years. With nine figures of cash on the balance sheet and a streamlined organization, ONE Championship looks forward to continuing to delight our fans around the world with more heroes and new experiences for many years to come.”
Formerly known as ONE Fighting Championship and ONE FC, ONE Championship was launched on July 14, 2011 by Chatri Sityodtong, who is the current chairman and CEO. The company is backed by Sequoia Capital, GIC, Temasek Holdings, Iconiq Capital, Mission Holdings and Greenoaks Capital.
In 2019, ONE Championship ranked third among the most viewed sports organizations on YouTube, Facebook and Instagram, according to the latest statistics released by online video analytics authority Tubular Lab. The first three spots belonged to WWE, the National Basketball Association and the National Football League.
Like almost all major sports organizations in the world, ONE Championship postponed its live events due to the new coronavirus (COVID-19) pandemic. Its most recent live event was “ONE: King of the Jungle,” which took place at the Singapore Indoor Stadium in Kallang, Singapore on February 28, 2020.
Furthermore, ONE Championship is slated to premiere “The Apprentice: ONE Championship Edition” in the fourth quarter of 2020. Chatri, who is set to host the show, describes this take on the hit reality television franchise as the toughest version of “The Apprentice” yet.