Social media star turned boxer Jake Paul has taken on UFC and its President Dana White over pay and healthcare for fighters. On Tuesday, Paul announced his latest step in the feud.
What Happened: Paul announced via Twitter Tuesday that he bought shares of UFC parent Endeavor Group Holdings (NYSE:EDR), which went public in 2021.
The move comes after Paul criticized the UFC, and Tuesday’s tweet said Paul will try to drive changes from within the organization.
As a shareholder, Paul will have access to shareholder meetings and votes on company business.Paul’s partner Geoffrey Woo invested in Endeavor as well and said they are hoping to convince shareholders and UFC management to “do the right thing.”
Paul and Woo did not disclose how much they invested in EDR shares.
Related Link: UFC, WME Parent Endeavor IPO: What Investors Need To Know
Why It’s Important: Paul and White have had several arguments over how UFC fighters are paid and treated. The latest argument saw Paul offer to retire from boxing and compete in the UFC if fighter pay was raised and healthcare was offered to fighters.
Paul highlighted that the minimum payment for a UFC fighter was $12,000 per fight, saying he wants to see it raised to $50,000 along with fighters getting a bigger cut of annual UFC revenue.
Paul retweeted a post that showed the combined payout for every fighter at UFC 270 was $1.8 million.
The push from Paul comes as UFC Champion Francis Ngannou, who won his fight over the weekend, wants a new UFC deal with boxing options and doesn’t want to fight for $500,000 or $600,000 anymore.
Ngannou was paid $600,000 for his UFC 270 fight, which Paul pointed out was less than the minimum NFL salary of $650,000.
Price Action: EDR shares are down 5% to $28.47 on Tuesday. Shares have traded between $22.02 and $35.28 since the company went public in 2021 at $24 a share.
Photo: Courtesy of adrianpua on Flickr
