Conor McGregor's Bare Knuckle Blockbuster

Dana White had his chance to buy out a rebellious frenemy. Did he... or didn't he?

How much would you pay to get an endorsement and buy in from a top celebrity investor on Shark Tank?

Conor McGregor’s endorsement — and ownership announcement — regarding Bare Knuckle Fighting Championship is potentially worth millions of dollars. Now the key is how quickly Dave Feldman and Triller can maximize that endorsement before Mr. McGregor fights Michael Chandler in Las Vegas.

One thing I know for certain: Conor’s endorsement of BKFC is worth a hell of a lot more than Donn Davis paying Sports Business Journal to be a “gold sponsor” at one of their pay-for-access conferences and getting a 20-minute speaking slot to regurgitate the same process-oriented sales pitch he always spouts off on.

The true value of a Conor McGregor endorsement

The backdrop for Conor McGregor’s ownership announcement in Bare Knuckle FC couldn’t have been any sweeter for Dave Feldman, the old-school in-your-face pitbull of a front man for BKFC.

Last December, Bare Knuckle FC caught a huge break by being granted an opportunity to gain a temporary license in the state of California. Politically, the Bare Knuckle application was paired with a temporary license for Power Slap.

The visual of blood and cuts in Bare Knuckle fighting apparently is worse optics than the automatic brain damage from an undefended concussive slap. Nevertheless, the two competitors are often married together in regulatory sessions and end up giving each other a bizarre level of political cover.

If you approve of one, you have to approve the other. But that’s where the comparisons between Bare Knuckle FC and Power Slap should end.

At that December 2023 not-so-public California State Athletic Commission meeting in San Francisco for regulatory approval, it was the Bare Knuckle FC team that were the adults in the room. They had every I dotted and every T crossed.

They completed as much paperwork as possible and submitted every bit of medical information requested. No false promises. No BS.

The CSAC’s political front man Andy Foster — who swore four years ago that he would never, ever allow Bare Knuckle to come into the state of California — was quietly and tacitly approving BKFC’s application into the state.

Part of the approval process involved Mr. Feldman promising four events in the state of California. The first of those events happened on Saturday night at The Peacock Theater in Los Angeles, right next to where the Lakers won an NBA playoff game against the Denver Nuggets.

Head-to-head, BKFC drew a crowd of 7,000. They had last-minute walk-up ticket buys after the Lakers won.

Bare Knuckle’s foray into Los Angeles was a herculean effort. The company, which is majority-owned by Triller, is under financial pressure. Some of that pressure was relieved last week with Triller’s transition onto the NASDAQ through AGBA. It gave Triller access to public investment. Triller is based in Los Angeles.

You can only imagine what a powder keg last week was for Mr. Feldman. His ass was on the line. Bare Knuckle’s future was on the line. If they scored big in California, a lot of doors would open up for sponsorships, fighters, television, and most importantly some invitations to key new markets.

For the Philadelphia-based Bare Knuckle FC, you could say that Knucklemania in Los Angeles had the same impact as ECW running their Barely Legal PPV in 1997.

This was a make-or-break moment for Bare Knuckle. And they made the most of their opportunity.

The costs of putting on an event at The Peacock Theater in Los Angeles were astronomical. Mike Perry, according to California records, was paid $600,000.

Besides fighter costs, there were some enormous costs regarding paying officials working for Andy Foster and the Athletic Commission.

Multiple sources told us, on background, that four doctors were booked by the state and that the estimated price tag alone was in the five figures. Throw in the costs for athletic inspectors, officials, timekeepers, security, etc. and the event was one expensive initiation.

The promotion passed with flying colors. They drew the big house. They put on an event with legitimate production value. It looked like a major event.

And then came the earthquake — Conor McGregor’s ownership announcement.

Mr. Feldman has spent a full year cultivating a relationship with Conor McGregor and his associates. Mr. McGregor issued a hell of an olive branch last year when he stepped into the ring and had a faceoff with Bare Knuckle’s ace, Mike Perry:

A year later, Mike Perry is a bonafide star and Conor McGregor is on track to headline the first $20 million dollar-plus gate for UFC in Las Vegas.

Conor McGregor the businessman is on a heater. From his backing of Proper No. Twelve to starring in Road House, the man is a money machine. It may not be the most conventional of routes, but his star power is undeniable. And for Bare Knuckle FC, that is worth millions of dollars.

An intensely defiant Dave Feldman summed up his feelings on Saturday night regarding Conor McGregor’s entry into Bare Knuckle ownership:

"You got a guy who has the most downloaded or most viewed movie in Amazon history, right? It wasn't because of his acting. Not that he was bad at acting. It was because he was Conor McGregor. It wasn't Jake Gyllenhaal that drove those views, it was Conor McGregor that drove those views. He's one of the most popular guys in the entire world. He's one of the most influential combat sports fighters of all time, or personalities of all time. You tell me? You get a guy like that, anything he touches turns to gold. I want that Midas touch for us, so we brought it over."

Mr. Feldman may have looked exhausted at Saturday’s presser — and for good reason. He survived a financial gauntlet and now has some daylight to make some money and gain a piece of market share that PFL will not accomplish any time soon in the States.

A game of Bare Knuckle leverage

How — and why — did the stars align for Conor McGregor’s announcement of ownership into Bare Knuckle FC?

Timing is everything in life.

We’ve summarized Triller’s economic difficulties. Now let’s look at the other side of the ledger and focus on Conor McGregor.

It’s taken an awfully long time for Mr. McGregor to return to UFC competition. He’s facing a tough opponent. A lot of money is at stake. He reportedly has two fights left on his UFC deal. Then what?

Bare Knuckle has already established Mike Perry as a prime opponent for Conor McGregor. It’s a perfect kind of fight to market. Everyone involved would make a huge pay day.

This a great pivot of leverage for the fighters and Mr. Feldman in terms of opening up new business avenues. You can’t turn your eyes away from that kind of fight. It’s also the kind of fight that, in the eyes of Bare Knuckle, could be their equivalent of Cain Velasquez vs. Junior dos Santos when UFC landed on FOX broadcast in 2011.

Earlier, we asked what the true value of a Conor McGregor endorsement of Bare Knuckle is worth. For Bare Knuckle, Conor McGregor’s name, image, and likeness is worth millions — but they have to play their cards right and they have to move really fast.

They have eight weeks before the big UFC fight in Las Vegas. During those eight weeks, Bare Knuckle should be doing as much publicity as humanly possible — with or without Conor available for interviews.

Advertise Conor’s face on every radio and TV ad buy. Direct mail, digital, e-mail, you name it. Use the old Trump licensing playbook and market Conor’s ownership in Bare Knuckle to get new sponsors. Themed parties in Vegas the week of the big UFC fight.

Bare Knuckle should absolutely crash the party and spend resources grabbing as much oxygen as possible in Las Vegas. Don’t be like PFL and try to do a Wrestlemania weekend-style piggyback with a Vegas spot show that tanks.

Use your partnership with the biggest star UFC has and do some damage. Open some doors. Pass out a million business cards. Get Triller involved in celebrity events.

We’ll see what the business plan is moving forward. Regardless, Bare Knuckle has bought themselves some time and, more importantly, brand loyalty.

Curiously, one person who didn’t seemingly want to buy into Bare Knuckle was Dana White.

But why would the icon of UFC “lower” himself to getting involved in Bare Knuckle? I’ll turn the question on you — why is Bare Knuckle “beneath” UFC given how UFC is operating their business these days?

UFC’s gamble on Power Slap vs. Bare Knuckle

There is no question that Team UFC, for whatever reasons, remains fully committed into pumping the hell out of Power Slap. Whether it’s because of the high margins, because of business ties with Rumble, or because there is a belief that this venture can be somehow packaged into future event bundles for government contracts?