Monetary woes at ONE Championship have deepened right into a full-blown disaster, with the promotion reporting a document consolidated lack of $90 million in 2023 and cumulative deficits now exceeding $530 million towards simply $24.6 million in web belongings at year-end.
Amid this turmoil, a gradual exodus of expertise, capped by public warnings from former champion and repeated launch calls for from fighters, has laid naked ONE Championship’s rising fame for inactivity and contractual rigidity. Concurrently, mounting government departures, cancelled U.S. occasions, layoffs, and the collapse of high-profile broadcast offers with Amazon Prime Video and Turner Sports activities show a promotion struggling to ship.
Monetary Hemorrhaging Accelerates
In accordance with latest studies, ONE Championship’s monetary scenario deteriorated considerably in 2023, with the martial arts promotion posting a consolidated lack of $90 million USD, a pointy improve from $61.7 million misplaced in 2022. The corporate has now amassed losses exceeding $530 million since inception, whereas sustaining simply $24.6 million in web belongings on the group degree by the tip of 2023.
The promotion reported income development of 25% year-over-year, from $54.3 million to $68 million in 2023. Nevertheless, business evaluation reveals this development is basically beauty. A considerable portion of ONE’s broadcasting income consists of non-cash consideration within the type of promotional plugs and advertising publicity from broadcast companions. The corporate assigns greenback values to those companies utilizing inner estimation fashions and broadcaster fee playing cards, creating what analysts describe as “a self-canceling loop of non-cash income and matched price.”
The corporate just isn’t worthwhile and continues to incur massive working losses, regardless of income development.
Money reserves are working down shortly; the corporate is funding operations by drawing down money and liquidating investments. One Championship stays a high-growth however high-loss enterprise, with important money burn and a shrinking fairness base. The corporate’s future relies on its potential to both obtain profitability, increase new capital, or each.
The reliance on continued investor funding to keep up operations has created a precarious scenario the place the group should continually search new funding rounds to remain afloat. This dependency on exterior funding, mixed with mounting losses, has led some business observers to query the long-term viability of the group’s enterprise mannequin.
Try ONE Championship’s 2023 Funds: Solely $26 million left within the financial institution from John S. Nash & Stephie Haynes.
Qatar Funding Authority Relationship Deteriorates
The Qatar Funding Authority’s relationship with ONE Championship has grow to be more and more strained, with a number of sources reporting embarrassment inside Qatar’s sovereign wealth fund relating to its involvement with the promotion. The QIA led a $150 million funding spherical in 2021 alongside Guggenheim Investments, however sources point out the Qataris “have been more and more embarrassed about their involvement with ONE, which has been below the highlight for its weak financials.”
Two main Qatari sponsors introduced in by means of the QIA partnership, Qatar Airways and Ooredoo, have reportedly withdrawn their monetary help from ONE Championship. The deterioration has been publicly acknowledged by Karate Fight President Asim Zaidi, who said that “Qatar invested in ONE earlier however since has regretted partnering with them” and that “the Qatar Funding Authority just isn’t proud of their funding.”
Regardless of these tensions, Qatar offered an extra $50 million funding in October 2024. Business observers interpret this continued funding as Qatar making an attempt to guard its present substantial funding fairly than confidence within the promotion’s prospects.
Fighter Exodus and Public Warnings
Former ONE Championship two-division champion Reinier de Ridder issued stark warnings to fighters contemplating signing with the promotion after his departure to the UFC. Following his profitable UFC debut in November 2024, de Ridder said: “In the event you consider signing to One Championship, don’t. It’s simply that easy. You shouldn’t. There’s nothing there. There’s no fights. You’re simply unsuitable when you do that”
De Ridder’s criticism stems from prolonged durations of inactivity, combating solely as soon as in 2023 after being extremely lively in 2022. He described the stress positioned on his household and the issue in securing fights throughout his remaining years with the promotion
Australian bantamweight Reece McLaren has repeatedly requested his launch from ONE Championship, publishing an open letter in January 2025 stating: “Nevertheless, with the promotion shifting its focus in direction of Muay Thai and kickboxing, together with being ghosted by a matchmaker and a scarcity of communication, I really feel it’s time for me to maneuver on
McLaren’s frustration has endured, with him making further public requests for his launch as just lately as July 2025. The veteran fighter, who challenged for the ONE bantamweight title in 2016 and holds notable victories over present UFC fighter Muin Gafurov and former champion Jarred Brooks, has been notably affected by the promotion’s shift in focus towards putting sports activities.
“I’ve stayed quiet out of respect for the martial arts and the values that ONE Championship claims to be constructed on. However silence has solely led to extra disrespect. @onechampionship @yodchatri — your Core Values are Integrity, Humility, Honor, Respect, Braveness, Self-discipline, and Compassion. But I’ve been benched, ignored, and left with out fights or communication — and nonetheless, you gained’t launch me.
“You pleasure yourselves on being totally different, on representing the spirit of martial arts… however this isn’t it. All I’ve ever requested for is a good go — an opportunity to compete, present for my household, or be launched to take action elsewhere. I’ve given a decade to this sport. My future just isn’t a sport to be performed with. Honor your personal values. Launch me.”
Dmitry Menshikov, a Russian kickboxer, served authorized discover to ONE Championship in February 2025, citing contractual breaches after being provided just one struggle in 2024 regardless of guarantees of a extra lively schedule. His assertion learn: “A single bout per 12 months just isn’t a sustainable calendar for a aggressive athlete and is a transparent breach of the understanding between the fighter and the group.”
Different notable departures embody longtime champion Bibiano Fernandes, who left in December 2023 after expressing frustration over inactivity and suggested fighters to “suppose twice earlier than you determine to go there”. Marcus Almeida Buchecha, the Brazilian jiu-jitsu legend turned MMA fighter, has additionally expressed frustration along with his 15-month layoff between fights. In jiu-jitsu, I used to compete loads, so to be sitting out for 15 months, for me, it was horrible. It’s a foul expertise for my profession, and I’m not getting any youthful”.
Sage Northcutt departed the promotion in October 2024 after a contentious relationship that included a controversial struggle withdrawal over visa points for his coaches. Mikey Musumeci, the previous ONE flyweight submission grappling champion, introduced his departure in November 2024 after being stripped of his title because of weight-cutting points. He subsequently signed with the UFC Rade Opacic, a Serbian heavyweight kickboxer, joined GLORY Kickboxing after expressing frustration with ONE’s lack of exercise, stating: “As quickly as 2023 got here round, issues modified, and I’ve had simply two fights up to now two years.”
Govt Exodus and Management Instability
ONE Championship has skilled important turnover in its government ranks, with a number of key personnel departing the group. In October 2024, Niharika Singh, who served as ONE Senior Vice President of Company Improvement and Technique and was prominently featured as an advisor on “The Apprentice: ONE Championship Version,” ended her 4.5-year tenure with the corporate. Singh’s departure was notably notable given her high-profile function and shut affiliation with CEO Chatri Sityodtong.
The expertise drain has prolonged past particular person departures, with studies indicating that the group has misplaced three senior workforce members in just some months and will not have intentions of changing them.
CEO Chatri Sityodtong’s Controversial Statements
CEO Chatri Sityodtong has grow to be a lightning rod for controversy because of his frequent public statements and social media presence. His strategy to fighter criticism has been notably problematic, with a number of incidents highlighting his tendency to make inflammatory feedback about athletes.
In March 2025, Sityodtong was pressured to retract and apologize for feedback he made about Japanese kickboxer Kaito Ono, whom he had accused of being “scared” and “working away” after Kaito declined to struggle at a catchweight when his opponent missed weight. The incident required an official apology from Sityodtong, who admitted that his feedback have been “inappropriate” for a CEO to make in a press convention.
Related controversies have emerged relating to different fighters, together with his harsh criticism of a sure kickboxer who selected to stay nameless, whom he accused of avoiding a rematch and dismissed the champion’s earlier victory as a “fluke.” These public disputes have created an adversarial relationship between the CEO and a few of his group’s champions, additional damaging the promotion’s fame.
With Arjan Bhullar, Chatri publicly criticized Bhullar’s administration workforce, calling the negotiations “combative and smug.” In a sequence of social media posts in June 2025, the previous champion launched a blistering assault on Chatri, calling him “a bum automobile salesman who has burned via effectively over half a billion {dollars}” and predicting he could be “remembered as the most important failure within the historical past of sport”. Bhullar additionally revealed non-public communications with Chatri, stating: “He would at all times apologize to me on a non-public name after which I by no means understood. At the least have some balls to face by ur hate and lies.”
Anissa Meksen cited a household emergency for lacking the weigh-ins for her mixed-rules struggle towards Stamp Fairtex. Nevertheless, she later revealed deeper points with the promotion, stating that she had been “sad since I signed with them and I’ve cried loads about them.” Meksen accused ONE of constructing “an enormous mistake within the contract and their communication” relating to the principles of her bout, claiming she was unaware the struggle could be declared a draw if it went the gap.
Chatri continuously criticizes fighters throughout press conferences and media scrums, typically whereas the athletes are current. This strategy may be deeply embarrassing for skilled fighters and damages their reputations. When criticism goes too far, Chatri has been pressured to retract statements and apologize, suggesting these outbursts are sometimes impulsive fairly than strategic.
The cumulative impact of those incidents has created a local weather the place a number of fighters and managers have reportedly expressed dissatisfaction with ONE Championship’s management.
Shortly after Chatri Sityodtong detailed ONE’s failed bid to signal Francis Ngannou, Chatri publicly criticised Ngannou and claimed they withdrew their supply. Ngannou stated of Chatri:
“He switched on his personal. It went from ‘withdraw’ to ‘Francis was asking an excessive amount of.’ How do you withdraw a deal that any individual was asking an excessive amount of? Which one is it? Which one is the reality? It may well’t be each collectively. I noticed that and that’s once I thought, ‘Oh, this man’s a performer’ … Earlier than this, I used to be like, I like this man, I like his story. Now I even query if that story is true.”
Japanese combat-sports leaders have constantly pushed again towards ONE Championship CEO Chatri Sityodtong’s public disparagements of their organizations. RIZIN CEO Nobuyuki Sakakibara rebuked Chatri’s habits, Sakakibara emphasised that any promoter in search of to function in Japan should “correctly respect Japan’s martial arts organizations,” study Japanese etiquette. He added:
“In the event you really feel prefer it’s not taking place, it’s a promoter’s fault that’s not doing their job. They’re not choosing up the suitable factors, they’re not selling it proper. So, I believe, as a promoter, they shouldn’t be saying that to particular sports activities. In the event that they’ve tried, and if they will’t do it, it’s as much as them, and it’s their fault. We all know the best way to promote fascinating fights, and we make it fascinating.”
Contractual Restrictions and Enterprise Practices
Past inactivity points, ONE Championship has confronted criticism for its restrictive contracts. Evaluation of fighter agreements reveals among the most restrictive phrases in combined martial arts. Key issues embody: Lifetime picture rights: ONE retains rights to a fighter’s picture even after dying for industrial functions. Champion’s clause: Computerized contract extensions of 24 months or 4 fights upon profitable a title. Non-compete clauses: Extremely restrictive phrases that restrict fighters’ potential to compete elsewhere.
Cancelled US Occasions Sign Market Retreat
ONE Championship has cancelled a number of deliberate US occasions, dealing a big blow to its American enlargement technique. The promotion cancelled its August 2025 Denver occasion, initially scheduled as ONE 173, after deliberate predominant occasion participant Stamp Fairtex withdrew because of damage. The occasion has been rescheduled to June 26, 2026, greater than a 12 months later.
Earlier, ONE 169 was moved from Atlanta to Bangkok because of “accomplice obligations in Thailand”. The corporate had initially deliberate to carry two US occasions in 2025, however has successfully diminished this to a minimal US presence.
Studies point out Amazon Prime Video won’t renew its broadcasting take care of ONE Championship when it expires on the finish of 2025. Sources verify this represents a calculated exit as Amazon shifts focus towards potential UFC pay-per-view rights. The lack of this main US distribution platform severely limits ONE’s American market prospects.
Broadcasting Companions Misplaced
ONE Championship’s difficulties lengthen past monetary troubles and fighter dissatisfaction to incorporate the systematic lack of main broadcasting companions, successfully closing doorways to key world markets and income streams.
Amazon Prime Video Exit: The Finish of US Enlargement
Probably the most important broadcasting blow got here with Amazon Prime Video’s resolution to not renew its take care of ONE Championship when it expires on the finish of 2025. Sources verify this calculated exit represents Amazon’s strategic shift towards confirmed properties fairly than experimental ventures. The five-year settlement, introduced in 2022 with nice fanfare as a serious breakthrough for ONE’s North American enlargement, was designed to function as much as 12 dwell occasions yearly on the streaming platform.
Amazon’s withdrawal stems from ONE’s failure to ship scale, star energy, or significant traction within the US market for the reason that partnership started. The promotion struggled to construct a constant viewers regardless of Amazon’s large attain, with business observers noting that ONE occasions on Prime Video did not generate important viewer engagement.
Turner Sports activities Partnership Collapse
ONE Championship’s relationship with Turner Sports activities ended after a three-year deal that ran from 2019 to 2021. The partnership, which initially appeared promising, noticed ONE occasions broadcast on B/R Stay and TNT, with 24 dwell occasions scheduled yearly. Turner Sports activities had positioned the deal as concentrating on millennial audiences and leveraging ONE’s Asian market presence.
Nevertheless, the Turner relationship did not ship anticipated outcomes. The promotion’s “TNT Sequence” in April 2021, that includes 4 consecutive occasions aired in primetime on TNT, acquired lukewarm reception regardless of that includes high-profile fights. CEO Chatri Sityodtong later acknowledged being “not glad” with US tv scores from the TNT broadcasts.
The tip of the Turner partnership coincided with the broadcaster’s broader strategic shifts in sports activities programming. Turner opted out of its UEFA Champions League contract in 2020, demonstrating a sample of exiting underperforming sports activities properties.
Whereas ONE Championship has maintained some worldwide broadcasting relationships, a number of partnerships have proven pressure or restricted scope. The promotion secured a take care of Sky Sports activities for UK and Eire protection in late 2023.
Mass Layoffs Amid Funding Bulletins
ONE Championship performed layoffs affecting roughly 30-40 workers at its Singapore workplace in October 2024, occurring on the identical day the corporate introduced securing $50 million in new funding. The layoffs affected departments together with broadcast, esports, finance, advertising, and public relations. An extra spherical of layoffs occurred on the finish of June 2025.
CEO Chatri Sityodtong introduced the cuts in a digital assembly, describing them as “a part of the general strategic plan to deliver the corporate to profitability within the coming months.”
This represents the second main spherical of layoffs for ONE Championship, following a 20% world workforce discount throughout the COVID-19 pandemic in 2020.
Esports and Gaming Ventures: Underwhelming Efficiency
ONE Championship’s enlargement into esports and gaming has did not generate the anticipated affect or income. The group launched ONE Esports as a part of its diversification technique, however the enterprise has struggled to realize important traction within the aggressive gaming panorama.
The promotion’s cellular sport, ONE Struggle Enviornment, launched in 2025 with important fanfare and Web3 integration by means of the Sui blockchain. Nevertheless, the sport has acquired lukewarm reception. Regardless of bold plans for esports integration, the enterprise has not offered the anticipated income diversification or viewers enlargement that ONE Championship had hoped for when it initially introduced its gaming initiatives.
ONE Championship’s confluence of economic losses, investor dissatisfaction, fighter departures, cancelled occasions, operational relocations, and transparency questions presents a difficult panorama for the once-promising martial arts group because it makes an attempt to attain long-promised profitability.
