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Business is Booming for the UFC, But We Miss the Star Power

Posted on April 12, 2024   |   Updated on September 30, 2025
Rob Kachelriess

Rob Kachelriess

Conor McGregor inside the UFC octagon.

Conor McGregor, who won’t be at UFC 300. (Steve Marcus/Getty)

No Jon Jones. No Conor McGregor. UFC 300 has a loaded lineup Saturday at the T-Mobile Arena, but lacks the marquee names that made UFC 100 and UFC 200 milestone events for the fight organization. It's a reflection of the times, despite Mixed Martial Arts being more successful than ever.

👊 Before we had the Golden Knights, Aces, or Raiders, the UFC was a major-league sport that Las Vegas could call its own. The Ultimate Fighting Championship wasn’t founded here, but it became part of the local economy after it was bought in 2001 by the Fertitta family behind Station Casinos. At the time, the UFC was struggling with business, bad publicity, and lack of regulation. John McCain famously opposed the “barbaric” sport of cage fighting, describing it as “human cockfighting.” However, the senator would come around along with the sports world and Wall Street.

📺 The turnaround is traced directly to “The Ultimate Fighter,” a reality TV competition that launched in 2005, making stars out of up-and-coming fighters, as well as the champions and top contenders who stepped in as coaches. Just 11 years later, the UFC was bought by Hollywood giant Endeavor for more than $4 billion and is now traded on the stock market as part of spinoff company TKO. Along the way, the UFC signed a lucrative deal with ESPN, which offered guaranteed money for pay-per-view events, regardless of how many people pay to watch.

💰 Combat sports are traditionally sold on the aura and personality of the competitors, but the UFC now makes the same money for every pay-per-view, regardless of who’s inside the Octagon. Prior to that, a six-year apparel sponsorship with Reebok made the fighters even more homogeneous.

⚡ Viewership and attendance are strong and revenue is setting records, but it’s hard not to miss Quinton “Rampage” Jackson, Tito Ortiz, Chuck Liddell, Anderson Silva, Ronda Rousey, Brock Lesnar, and other personalities of the boom era. Back then, fans weren’t paying for just the fight, but also that on-edge anticipation when competitors would face each other from across the Octagon as a bout begins.

💪 Ultimate Fighting may have fewer moments of electricity these days, but the action at UFC 300 will hopefully be better than ever. As with all sports, the skills and athleticism only improve over time, even if the trash talk doesn’t. Two remaining icons, Jones and McGregor, are on tap for events later this year, but in the twilight of their careers. Enjoy ‘em while you can. The UFC will thrive as a homegrown global brand long after those two are retired.

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