Author’s note: In this series, FORBES SportsMoney will cover the most influential professional MMA promotions on a global and domestic (U.S.) scale, catching up with high-ranking executives to learn about each organization’s biggest developments as 2017 gets into full swing.
We continue our series with the World Series of Fighting (WSOF), a promotion based in Las Vegas, Nevada that launched in 2012 with the backing of NBC Sports Network.
Over the past year, reports of various financial and legal troubles have led to whispers that World Series of Fighting might be closing up shop. But coming off its highest-rating show ever and with new majority owners in tow, CEO Carlos Silva maintains that 2017 is shaping up to be a big year for WSOF.
“I couldn’t be more excited for the future,” Silva said. “We’re excited to have those new owners, and 2017 is all about continuing to grow on the success of our Madison Square Garden show (WSOF 34).”
Who exactly those owners are remains a mystery, but an SEC filing from Jan. 20 surfaced by MMA journalist Mike Russell revealed that 60% of the company had been sold to a group of new investors. Their role in helping to shape WSOF will become more clear by mid-year, according to Silva, who confirmed that he and President Ray Sefo are still steering the ship with business and fighter operations, respectively.
Updated Wednesday, April 19:
The WSOF's new owners have created the Professional Fighters League (PFL). The new league, which is headquartered in Washington, D.C., will absorb WSOF's fighter roster and is set to debut in Jan. 2018.
The league was co-founded by by Russ Ramsey, a banker/hedge fund manager and former chairman of the GWU board of trustees, as well as D.C. venture capitalists Donn Davis and Mark Leschl. Silva and Sefo will stay on board, with their titles changing to president of event production/business operations and president of fighting operations, respectively.
The PFL is offering a $10 million total prize pool — $1 million to each its inaugural league champions across seven divisions, with the remaining $3 million going toward the other competitors. At least one of the divisions will be reserved for female fighters and feature two-time Olympic gold-medal winning judoka Kayla Harrison, according to the Washington Post.
Original Story From Feb. 26:
Silva and Sefo took a calculated risk with WSOF's 2016 finale, cancelling a pair of smaller winter fight cards to stack a New Years Eve event in New York. Despite slow ticket sales and the competition of a college football playoff game, the event at The Theater at MSG drew a sold-out crowd and record viewership of 1.2 million between NBC (main card) and NBCSN (prelims).
“Leading up to it some people were scratching their heads, but we have a great partner in NBC Sports and we felt like it was a unique time slot and obviously the most famous arena in the planet,” Silva said.
Taking a cue from their strong Big Apple debut, Silva and Sefo have pushed back their next event in an effort to boost its drawing power. They will again be featuring three championship fights, as well as the adopted brother of UFC title challenger Khabib Nurmagomedov, on another card in New York state — WSOF 35 in Verona.
One of those championship fights is for the vacant WSOF bantamweight title, which points to another trend that bears monitoring for WSOF: trying to retain its biggest names in free agency. Long-reigning bantamweight champ Marlon Moraes recently vacated his belt, as did two-division title-holder David Branch. Branch, the former WSOF light heavyweight and middleweight champ, has already signed with the UFC, with Moraes likely following suit.
The promotion is also in danger of losing its top young talents in lightweight champ Justin Gaethje (free agent) and featherweight champ Lance Palmer (contract ends after WSOF 35), who are sure to receive interest from the UFC and Bellator.
But while it appears that a roster rebuild is underway, Silva is not yet ready to close the door on his homegrown stars.
“Free agency’s a part of the game — you see fighters move from UFC to Bellator to World Series of Fighting, really in every direction,” Silva said. “I don’t think it’s safe to say that (Gatehje and Palmer) are going anywhere … we’re going to continue to have discussions with them.”
No matter what happens with its personnel, WSOF will remain buoyed by its Big Three broadcast network in addition to a thriving new market in New York, where it now holds a foothold with MSG’s Theater venue. The company also continues to host events across five continents with its WSOF Global properties.
But again, it’s best to reserve judgment on the promotion as it navigates its way through a transitionary period. Some big announcements on the horizon should help to clear up exactly where WSOF stands.
“We’re going to catapult (WSOF) with some new innovations, new fighters … and as we get to the middle of the year, we’re going to share those plans with everyone,” Silva said.
