Financial issues at one championship have deepened into a full-scale crisis as they reported a record consolidated loss of $90 million in 2023, exceeding $530 million against just $24.6 million in net worth at the end of the year.
Amid this chaos, the steady talent exit, silenced by public warnings from former champions and demand for releases from fighter jets, has built up a growing reputation for naked championships against inactivity and contractual rigidity. At the same time, executive departures, cancellations of US events, layoffs, and breaking down high-profile broadcast contracts between Amazon Prime Video and Turner Sports will show promotions that are struggling to offer.
Financial bleeding accelerates
According to recent reports, the financial situation for one Championship deteriorated significantly in 2023, with Martial Arts Promotion recording a consolidated loss of USD 90 million, a sharp increase from its $61.7 million loss in 2022.
The promotion saw revenue growth rate of $68 million in 2023, 25% year-on-year. However, industry analysis revealed that this growth was primarily cosmetic. A significant portion of broadcast revenue consists of non-cash considerations in the form of promotional plugs and marketing exposures from broadcast partners. The company uses internal estimation models and broadcaster rate cards to assign dollar value to these services, creating what analysts call a “self-cancellation loop of costs consistent with non-cash revenue.”
The company is not profitable and despite revenue growth, it continues to experience significant operating losses.
Cash reserves are flowing quickly. The company funds its operations by cutting cash and liquidating investments. One championship is a massive growth yet a decline business, burning significantly and shrinking its stock base. The future of a company depends on its ability to achieve profitability, raise new capital, or both.
The ongoing dependence on investors’ funds to maintain their business has created an uncertainty in which organizations must constantly seek new investment rounds because they are floating. This reliance on external funds, combined with increased losses, has led some industry observers to question the long-term viability of an organization’s business model.
Check out the 2023 finances for one championship. Only $26 million remains in the bank from John S. Nash & Steehey Haines.
Qatar Investment Bureau relations worsen
The Qatar Investment Bureau’s relationship with one championship is becoming increasingly tense, with multiple sources reporting embarrassment within Qatar’s sovereign wealth funds regarding its involvement in promotion. QIA led a $150 million funding round alongside Guggenheim investments in 2021, but sources say Catalis was “increasingly embarrassing about his involvement with people who are in the spotlight for their weakness in their finances.”
Two major Qatari sponsors have been involved through QIA partnerships Qatar Airways and Au Doo, and reportedly withdraw financial support from one championship. The degradation has been publicly recognized by President Asim Zaidi, Karate Combat President, who said, “Qatar has invested previously, but regrets partnering with them ever since,” and that “Qatar Investment Bureau is not satisfied with the investment.”
Despite these tensions, Qatar provided an additional $50 million investment in October 2024. Industry observers interpret this ongoing funding as Qatar, which seeks to protect existing substantial investments, rather than trust in the promotional outlook.
Fighter jets’ Exodus and public warnings
Former One Championship two-division champion Reinier de Ridder has issued a harsh warning to the fighters, considering signing with a promotion after the departure to the UFC. After a successful UFC debut in November 2024, De Ridder said:
De Ridder’s criticism stems from the long-term inactivity of inactivity after becoming very active in 2022, and not able to fight once in 2023.
Australian bantamweight lease McLaren repeatedly requested his release from one championship and released an open letter in January 2025.
McLaren’s complaints continue, and he has requested an additional release request for his release in July 2025. The veteran fighter, who challenged the bantamweight title in 2016 and holds a notable victory over current UFC fighter Muingafrov and former champion Jared Brooks, was influenced by promotions, particularly focused on strike sports.
“I spent my time quietly respecting the values and values that martial arts and the one championship claimed to be built. But silence led to more disrespect. @Onechampionship @yodchatri – Your core values are integrity, humility, honor, respect, courage, discipline, compassion.
“You’re not about representing the spirit of martial arts, but this isn’t. What I’ve asked for so far is fair. A chance to compete, provide to families, or be released elsewhere. I’ve given this game a decade. My future is not a game to play.
Russian kickboxer Dmitry Menshikov served as a legal notice to one championship in February 2025. His statement said, “One match per year is not a sustainable calendar for competitive athletes, but a clear violation of understanding between fighters and the organization.”
Other notable departures include longtime champion Viviano Fernandez. He left after expressing his dissatisfaction in December 2023, advised the fighter, “Think twice before going there.” Marcus Almeida Buffeccha, the MMA fighter who became a Brazilian jiu-jitsu legend, expressed his dissatisfaction with the 15-month layoffs during the fight. In Jiu-Jitsu, I used to compete a lot, so sitting for 15 months was scary for me. It was a bad experience for my career and I’m not getting younger.”
Sage Northcutt left the promotion in October 2024 after having controversial relationships, including the withdrawal of the controversial fight against his coach’s visa issue. Previous flyweight submission grappling champion Mikey Musmesi announced his departure in November 2024 after being stripped of his title due to weight reduction issues. He then signed with Serbian heavyweight kickboxer UFC Rade Opacic, and after expressing his dissatisfaction with the lack of activity, he joined the glorious kickboxing, saying, “As soon as 2023 came, things changed and we had two fights in the last two years.”
Executive Exodus and Leadership Instability
One Championship has experienced significant sales in executive blanks, with several key staff leaving the organization. In October 2024, Niharika Singh, who was prominently featured as a senior vice president of corporate development and strategy and as an advisor to The Apprentice: One Championship Edition, has ended his 4.5-year tenure with the company. Singh’s departure was particularly prominent given her famous role and her close relationship with CEO Chatri Sityodtong.
The drainage of talent has been extended beyond individual departures, and the report shows that the organization has lost three senior team members in just a few months, and it may not be intentional to replace them.
Controversial Statement from CEO Chatri Sityodtong
CEO Chatri Sityodtong has become a lightning bolt for controversy thanks to his frequent official statements and the presence of social media. His approach to combat critique is particularly problematic, with some cases highlighting the tendency to make inflammatory comments about athletes.
In March 2025, Sityodtong was forced to withdraw his comment about Japanese kickboxer Kaito Ono. He had accused Kite of “scaring and running away” after refusing to fight with catchweight when the enemy missed the weight. The incident required an official apology from Sitiodon. He admitted that his comments were “inappropriate” at a press conference.
Similar controversy over other fighter jets has emerged. He accused him of avoiding a rematch, including his harsh criticism of a particular kickboxer who chose to remain anonymous, and dismissed the champion’s previous victory as “suckle.” These public disputes have created hostile relationships between the CEO and some of his organization’s champions, further undermining the promotion’s reputation.
Along with Arjan Bhullar, Chatri publicly criticized Bhullar’s management team, calling the negotiations “military and rog arrogant.” In a series of social media posts in June 2025, the former champion launched a ferocious attack on Chatli, calling him the “bumker salesman who burned well over $5 billion,” and predicted that he would be “remembered as the biggest failure in the history of sports.” Bhullar also revealed his private communication with Chatri, saying:
Anissa Mexen cited the family emergency for missing measurements due to her fight against mixed rules with Stamp Fairtex. However, she later revealed a deeper issue with the promotion, saying, “I have been unhappy since I signed them and I have cried out a lot about them.” Meksen accused her of making “a big mistake in the contract and their communication and a big mistake in their communication” regarding the rules of the match, claiming that she is unaware that the fight will be declared a draw if the distance progresses.
Chatri frequently criticizes fighters during press conferences and media scrums, but in many cases athletes are present. This approach can be extremely embarrassing for professional fighters and can damage their reputation. When criticism goes too far, Chatri is forced to withdraw the statement and apologize, suggesting that these explosions are often impulsive rather than strategic.
The cumulative effect of these cases created a climate in which multiple fighters and managers reportedly expressed dissatisfaction with the leadership of one championship.
Shortly after Chatri Sityodtong detailed his failed bid to sign Francis Ngannou, Chatri publicly criticized Ngannou, claiming that they had withdrawn the offer. nkannou said about Chatri:
“He turned on the switch himself, and it went from “retreat” to “Francis wanted too much.” Someone was asking too many.
The leader of Japanese combat sports consistently pushed back public dissatisfaction in the organization of Chatri Sityodtong, CEO of one championship. Rizin CEO Sakakibara replied Chatri’s actions, while Sakakibara emphasized that promoters seeking to operate in Japan must “respect Japanese martial arts organizations appropriately.” He added:
“If it feels like it’s not happening, it’s because of the promoters who aren’t doing their job. They’re not picking up the right points, so they’re not promoting it correctly. So, as promoters, I don’t think they should say it to a particular sport.
Contractual restrictions and business practices
Beyond inactivity, one championship faces criticism of its restrictive contracts. An analysis of the fighter agreement revealed some of the most restrictive terms in mixed martial arts. The main concerns are: Rights to Lifetime Images: Reserve the rights to the image of a fighter even after death for commercial purposes. Champion clause: Automatic contract extension for 24 months or 4 fights when you win the title. Non-competitive clause: A very restrictive term that limits the ability to compete elsewhere.
Cancelled US Event Signal Market Retreat
One championship cancelled multiple planned US events, causing a major blow to the US expansion strategy. The promotion was originally scheduled for 173 people after cancelling the Denver event in August 2025. The event was scheduled until more than a year later, June 26th, 2026.
Previously, 169 people moved from Atlanta to Bangkok due to “partner duties in Thailand.” The company initially planned to host two US events in 2025, but effectively reduced this to a US presence.
According to the report, Amazon Prime Video shows that it will not renew its broadcast contract with one Championship when it expires at the end of 2025. This confirms that Amazon represents a calculated exit as it focuses on potential UFC pay-per-view rights. This loss on the major US distribution platform is a severe limit to the outlook for the US market.
Broadcast partner lost
One Championship difficulties go beyond financial trouble and fighter frustration, effectively shutting down the door to key global markets and revenue streams, including systematic losses of key broadcast partners.
Amazon Prime Video Exit: The End of the US Expansion
The most important broadcast hit was accompanied by Amazon Prime Video’s decision not to renew its deal with one championship when it expires at the end of 2025. The source confirms that this calculated exit represents Amazon’s strategic shift to proven properties rather than experimental ventures. Announced in 2022 with a fantastic fanfare as a major breakthrough in North American expansion, the five-year agreement is designed to feature up to 12 live events each year on the streaming platform.
Amazon’s withdrawal comes from the failure to provide scale, star power, or meaningful traction in the US market since the partnership began. This promotion struggled to build a consistent audience despite Amazon’s big reach. Industry observers note that one event in Prime Video failed to generate significant audience engagement.
The Turner Sports Partnership collapse
The relationship between one championship and Turner Sports ended after a three-year contract between 2019 and 2021. The partnership, which initially appears to be promising, aired one event on B/R Live and TNT, with 24 live events scheduled each year. Turner Sports positioned the deal as targeting millennial audiences and leveraging its presence in the Asian market.
However, Turner’s relationship failed to produce the expected results. The promotional “TNT Series” in April 2021 featured four consecutive events aired primetime on TNT, and despite featuring a high-profile battle, it received a lukewarm reception. CEO Chatri Sityodtong later admitted that he was “unsatisfied” with the US television ratings from TNT broadcasts.
The end of Turner’s partnership coincided with broader strategic changes in broadcasters in sports programming. Turner opted out of his UEFA Champions League contract in 2020 and showed a pattern of withdrawing his underperforming sports properties.
Some championships maintain several international broadcasting relationships, while some partnerships show tension or limited scope. The promotion secured a contract with Sky Sports for UK and Ireland coverage in late 2023.
Massive layoffs amid fundraising announcements
One Championship conducted a layoff in its Singapore office in October 2024 affecting approximately 30-40 employees. The layoffs affected departments such as broadcasting, esports, finance, marketing and public relations. Additional layoffs occurred at the end of June 2025.
CEO Chatri Sityodtong announced the cuts in virtual meetings, describing them as “part of the overall strategic plan to bring the company to profitability in the coming months.”
This represents the second major round of one championship layoffs, following a 20% global workforce cut during the 2020 Covid-19 pandemic.
Esports and Game Ventures: Overwhelming Performance
One championship and expansion into esports and games failed to generate the expected impact or revenue. The organization has launched one eSports as part of its diversification strategy, but the venture is struggling to gain great traction in a competitive gaming environment.
One Fight Arena, a promotional mobile game, was launched in 2025 with a significant fanfare and Web3 integration via the SUI blockchain. However, the game received lukewarm water. Despite ambitious plans for eSports integration, the venture is not offering the expected revenue diversification or audience expansion it hoped for when one championship first announced its game initiative.
One championship’s confluence of financial losses, investor complaints, fighter departures, cancelled events, operational transfers, and transparency questions presents a challenging landscape for once-promoted martial arts organizations seeking to achieve long-standing profitability.