ONE Championship just got a major boost in investments over the past few weeks.
Although the sporting world has been put to a halt because of the COVID-19 pandemic, Asia’s largest global sports media property continued to pile-up on its ‘war chest.’
On Monday, 15 June, the company raised US$70 million from new and existing investors.
With the latest round of funding, The Home Of Martial Arts now has a total capital of $346 million.
“I am full of gratitude for this strong vote of confidence amidst the worst global economic crisis in 100 years,” Hua Fung Teh, Group President of ONE Championship, said.
“With 9 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.”
The additional funding is a welcome development to the organization as it is now also considering rebooting their events if countries continue to open up and ease restrictions in Asia.
It has been three and a half months since their last event ONE: KING OF THE JUNGLE, which was held behind closed-doors in Singapore.
With Asia being hit directly by the virus, the organization decided to postpone their events due to safety precautions. However, as soon as the countries open up and health experts deem it safe, fans could expect The Home Of Martial Arts to return soon.
ONE Chairman and CEO Chatri Sityodtong told the Associated Press last week that they are doing everything they can to make sure ONE returns in the safest way possible.
“Different governments have different policies on their borders, as well as their lockdown policies, so that’s been a little bit tricky in getting everything up and running,” Sityodtong said.
“But my team and I have been working on it nonstop, and we feel pretty good about it.”
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