The UFC has signed a $175M deal to make Crypto.com as its first global fight kit partner..
As fight kit partners, Crypto.com will have their branding on the fighter’s walk-out and fight gear.
The new fight kits are set to be unveiled during this weekend’s UFC 264 which features the third fight between Conor McGregor and Dustin Poirier.
Don’t be surprised to see a new corporate logo on Conor McGregor’s fight geat this Saturday. That’s because the UFC has just landed one of its most lucrative sponsorship deals ever.
According to the promotion on Wednesday, they have sold the branding rights to its fighters’ uniforms to cryptocurrency platform Crypto.com. Said UFC President Dana White during a press release:
“This is a partnership between two companies that are the best at what they do. No company has done more to grow the popularity of combat sports than UFC, and now we’re one of the biggest sports brands on the planet. We can help Crypto.com reach more people around the world through the strength of our brand.”
White refused to divulge the value of the long-term contract when asked by reporters. But ESPN reported that its sources say it’s worth in the “low nine figures” and news outlet Sportico said the deal is valued at $175M for the duration of the contract.
A Historic Partnership
🚨BIG NEWS🚨@UFC & https://t.co/vCNztABJoG announce historic partnership
✅ https://t.co/vCNztABJoG is UFC’s 1st Official Crypto Platform Partner 🥊
✅ https://t.co/vCNztABJoG is also UFC’s 1st Global Official Fight Kit Partner 👕
📺 See us at #UFC264!https://t.co/0fRyH4Vnkv pic.twitter.com/KirGbh3wIH
— Crypto.com (@cryptocom) July 7, 2021
By securing the UFC deal, Crypto.com becomes the first official crypto partner of the promotion and its first global official fight kit partner.
Aside from having the Crypto.com logo on the fighter’s walk-out and in-cage gear, the crypto platform will also see their branding in the fighters’ corners. Also, Crypto.com will get a logo inside the Octagon during the UFC’s PPV events and during the Dana White Contender Series cards. Furthermore, Crypto.com will be integrated in across the UFC’s different verticals.
Fighters will not get a direct cut from the UFC’s deal with Crypto.com because they don’t have a union and a collective bargaining agreement that will allow them to get a revenue share from deals like this one. However, fighters can enter into individual deals with the cryptocurrency platform as paid brand ambassadors.
UFC Fight Kit by Venum
UFC’s new fight kits by Venum have been revealed 👀 (via @ufc) pic.twitter.com/WzsPaNvxJf
— ESPN MMA (@espnmma) April 6, 2021
UFC 260 was the last event under the promotion’s outfitting policy with sports brand Reebok. Beginning April 1, MMA brand Venum became the UFC’s new uniform provider. The Venum uniforms made their debut during the UFC Fight Night Event last April 10th.
The outfitting policy was controversial when it was instituted seven years ago because prior to it, fighters were allowed to wear gear with their own sponsors. When Reebok came, fighters lost the ability to earn thousands of dollars by being coerced to wear Reebok gear beginning fight week while earning only the “fight week incentive pay”. The deal is the same with Venum, although there is a slight pay bump under the new uniform deal.
The UFC however, encourages fighters to made individual deals with corporate sponsors like Monster Energy, an that’s what their saying now about Crypto.com. Fighters are also free to enter into any sponsorship for non-Fight Week related activities.