Conor McGregor’s company suffers six-figure loss

Conor McGregor’s Irish firm has taken a financial blow. McGregor Sports and Entertainment Ltd recorded losses of €309,462 in 12 months.

The firm’s accumulated losses increased from €354,708 to €664,170 in 2018. It also announced a loss of €470,923 in 2017.

The company was created to manage ‘The Notorious” entertainment endeavours in sport. Whilst the numbers released are significant, it is unlikely they will dent the wallet of Conor McGregor, who is estimated to be worth between $47 to $110 million.

During his most recent fight against Khabib Nurmagomedov at UFC 229 in 2018, he earned a $3 million fee for fighting the undefeated lightweight champion. He lost the fight via a neck crank in the fourth round, but his bank balance was certainly winning. McGregor also received PPV earnings which are estimated to have pushed his fee to over $30 million.

Also, this does not include additional sponsorships and endorsements. ‘Mystic Mac’ renewed his contract with Reebok which pays Conor McGregor a hefty $5 million a year.

However, the majority of McGregor’s financial success has come from his Whisky brand, Proper No. 12.

The company McGregor Sports and Entertainment Ltd was first established in 2014 to enhance the fighter’s earning potential. It engages in sports management, promotions and endorsements. It is currently involved in a brand battle with Dutch company Schiphol-based McGregor IP B.V. to have ‘Conor McGregor’ related trademarks registered throughout the EU.

Conor McGregor’s partner and mother to his two children (Dee Devlin) is a company director, alongside his long term friend, Alan Geraghty.

The new accounts provided last Friday demonstrate that the company’s cash pile has plummeted from €324,438 to €1,761. According to a note attached to the account, the directors have thoroughly considered the company’s financial position, business prospects and its ability to generate positive cash flow or additional funding required in the future.

The note said,  “On that basis, the directors are satisfied that the going concern basis is appropriate.”