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Monday 9 December 2019

McGregor's finances take a hit as his firm suffers €310k losses

Conor McGregor's Sports and Entertainment Ltd lost €309,462 last year - but the fighter earned €43m in 2019
Conor McGregor's Sports and Entertainment Ltd lost €309,462 last year - but the fighter earned €43m in 2019
McGregor after his UFC defeat to Khabib Nurmagomedov

Conor McGregor's finances took a beating as losses continued to mount at the main Irish firm of the mixed martial arts superstar.

New figures show that McGregor Sports and Entertainment Ltd recorded a deficit of €309,462 in the 12 months to last December.

This arose from the firm's accumulated losses increasing from €354,708 to €664,170 for 2018.

Last year's €309,462 loss followed a €470,923 deficit in 2017.

However, the accumulated losses are unlikely to trouble the Crumlin man as Forbes estimate that his 2019 earnings are worth around €43m.

Last year McGregor earned a $3m fee for fighting undefeated UFC lightweight champion Khabib Nurmagomedov in Las Vegas, where he lost by submission.

Record

The bout fee didn't include McGregor's pay-per-view (PPV) earnings and it's estimated that a record 2.4 million PPV buys helped push his total fight pay over $30m.

2018 was a busy year for McGregor outside the octagon as he launched his Irish whiskey distiller Proper No. Twelve.

Before his return fight at UFC 229, McGregor renewed his sponsorship deal with Reebok, which pays the Dubliner $5m annually.

McGregor Sports and Entertainment Ltd was only established in July 2014 to exploit the former plumber's earning potential and is engaged in sport management, promotion and endorsements.

The company is currently engaged in a brand battle with Dutch firm McGregor IP BV to have the 'Conor McGregor' and other McGregor related trademarks registered across the EU.

McGregor's long-term partner, Dee Devlin, is a director of the company along with McGregor's long-time friend Alan Geraghty.

Numbers employed by the firm last year remained at six with three engaged in sales and promotion and three in administration. Staff costs last year increased from €189,462 to €210,654.

The amount paid to directors last year by McGregor Sports and Entertainment Ltd increased from €81,900 to €108,000.

Positive

A note attached to the accounts states directors have considered the company's business prospects and all relevant aspects of the company's financial position, including its ability to generate positive cash flows and/or obtain additional funding that may be required.

On Ms Devlin's role in his career, McGregor has previously said: "She does not work any more, I hired her to the business.

''She works for me now and collects the cheques.

"Every day since I started in this game, she's supported me. If it wasn't for her, I probably wouldn't be where I am today."

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