Top Rank would be the most high-profile sports property acquisition since UFC was sold to Endeavour for $4 billion in 2016.
www.businessinsider.com
This old article 2020 has Bob Arum at 88 years old... has Bob trying to sell a stake in Top Rank to Endeavor.
- Top Rank, one of the most powerful combat sports companies in the world, has held discussions about selling a minority stake so it can globalize its business.
Todd Duboef, the company president and step son, said he would not sell his stake in the business. It did not happen... and I am sure Endeavor wanted more than just a stake.
-------------
I wonder how much do you think Top Rank is worth (Bob Arum has said "Everything is for sale for the right price")?
Top Rank owns fancy office building and other Debt-free Las Vegas real estate — Top Rank owns multiple buildings outright, including a gym near the Vegas strip.
- Intellectual property — Top Rank has footage of a prime Muhammad Ali and other fight material which it leases.
Top Rank used to also own a company that produced events like Evil Knieviel's jumps) not sure if they sold it or shelved the business.
"When someone's making a movie, we lease [our fight content to them]," Arum told us. "We have maybe 10,000 great,
great fights. Well, some greater than others, but great fights.
"As for the building [Top Rank HQ], we own it. We own the Top Rank gym, the building, and there is no debt on it. We bought it during the recession when the Lehmann Brothers went bankrupt [2008].
"They owned all these buildings on this line, and we bought it, [luxury casino magnate] Steve Wynn bought the two buildings next to us for design and so forth. Then we bought this and brought a great architect in, who is a friend, and he designed this place. We still have 5,000 square feet that we are not using!"
“It’s a race to see if [Top Rank is sold before] my demise or after my demise,” Arum quipped
Arum said candidly that the right owners could take his company to the next level.
“If it was sold to the right people, it would do a lot better than it’s doing now,” Arum said. “We’re looking to sell it to somebody that can help make it part of my dream, which is world wide enterprise. I’m looking for the resources, wherewithal, and the knowledge to do fights in India and make boxing a really, truly international sport.”
Arum apparently has someone in mind. Who is it?
“I’m not going to tell you who,” Arum said, “because that will affect the price.”
What Price would that be?
-------------------------
Note: GBP's De La Hoya said "I'm sitting on a billion-dollar company," De La Hoya told ESPN. "And I can't wait to get rid of it. And most importantly, I can't wait to be the very first fighter ever to be inducted into the Hall of Fame as a promoter as well. These are goals that I have."
