Elon Musk surprised UFC fans with an unexpected update on his impending fight against Mark Zuckerberg.
In a recent tweet, Musk informed that the highly anticipated fight between him and Facebook’s CEO will be orchestrated through the efforts of Musk’s and Zuckerberg’s respective foundations. This means that the bout will not be organized by Dana White’s UFC, as initially speculated.
Dana White, the President of UFC, had initially shown keen interest in promoting this unique showdown. He even discussed potential venues for the event, such as the iconic Roman Colosseum, during his appearance on the podcast ‘Hotboxin with Mike Tyson‘.
White’s estimations indicated that the fight could generate a staggering $1 billion in revenue. However, the latest tweet from Musk seems to have dashed White’s hopes, leading some to speculate that this change in direction could be attributed to an ongoing class action lawsuit against UFC.
The fight will be managed by my and Zuck’s foundations (not UFC).
Livestream will be on this platform and Meta. Everything in camera frame will be ancient Rome, so nothing modern at all.
I spoke to the PM of Italy and Minister of Culture. They have agreed on an epic location.
— Elon Musk (@elonmusk) August 11, 2023
The notion of a face-off between Elon Musk and Mark Zuckerberg first gained traction when both individuals playfully agreed to the idea on social media back in June. Initially dismissed as mere banter, it has since been confirmed that this much-discussed fight is, indeed, becoming a reality.
In his most recent tweet, Musk also revealed the exciting location for the impending clash: Italy. This decision was confirmed after Musk’s discussions with Italy’s Prime Minister, Giorgia Meloni, and Minister of Culture, Gennaro Sangiuliano.
Moreover, Musk disclosed that the event will be accessible to global audiences through live streams on both Twitter, under the alias X, and Meta. A unique aspect of this event is that the entire camera frame will be dedicated to showcasing the ambiance of ancient Rome, ensuring that the setting remains faithful to its historical roots.
UFC could lose $4.8 billion in antitrust lawsuit
UFC’s potential loss of billions looms larger as fresh information surfaces about an ongoing antitrust lawsuit. The origins of this legal battle date back to 2014, and now, a pivotal development has unfolded.
A recently issued document from the U.S. District Court for the District of Nevada informed that the case has been granted class certification, which is a significant step forward.
The crux of the matter revolves around alleged unfair business practices within the UFC. This class certification paves the way for nearly 1,200 fighters to collectively bring a lawsuit against the UFC. The scope of this class encompasses fighters who participated in UFC events from December 16, 2010, to June 30, 2017.
Dana White next time he’s asked about Elon Musk vs Zuckerberg: https://t.co/wnTuraBdFZ pic.twitter.com/clyv7Z4DTB
— OOC MMA (@oocmma) August 11, 2023
Initiated by former UFC fighters Cung Le and Jon Fitch, the lawsuit contends that the UFC’s operations constitute an illegal monopoly or monopsony. The claim asserts that the UFC has stifled competition from other MMA promotions, thereby exerting control over the fighters and depressing their earnings.
Eric Cramer, the chairman of Berger Montague and a lead attorney representing the class, highlighted a stark contrast. He pointed out that while the UFC allocates a mere 20% of its event revenues to fighters, boxing, and other major sports allocate well over 50%.
The recent class certification has injected new life into the case, bringing heightened significance to the potential consequences. Given the class action nature of the lawsuit, the initial damages could undergo a substantial increase.
The figures in question could multiply from the initially estimated range of $800 million – $1.6 billion to a staggering $2.4 billion – $4.8 billion. This development underscores the magnitude of the legal proceedings and the possible financial implications for the UFC. So what are your thoughts on it? Let us know in the comments down below.