FEG, the parent company of K-1 and DREAM today announced a partnership with Chinese investment bank PUJI Capital as they look to raise money and spread their reach internationally.
It is believed that PUJI Capital will not be involved in the day to day operations of the business, but they will spearhead their fund raising efforts with an aim to raise in the region of $220 million, while also overseeing their moves into new markets in Europe and Asia.
“This is a declaration of war against the WWE and UFC. From Asia, we will take the world,” K-1 president Sadaharu Tanikawa stated at a press conference to announce the partnership.
Tanikawa did however then go on to concede that the U.S market was now out of their reach.
“We won’t stand a chance in the American market so we will spread to the rest of the world,” he said.”
On the surface this seems like positive news, though we’ll have to wait and see how it pans out in the longer term. Personally I had fears as to whether DREAM in particular were going to make it through to the end of the year with the way things have been going lately.
There’s been rumors that FEG have been in real financial difficulties for some time now, so hopefully this investment drive can give the company more stability. Declaring war on the UFC and WWE seems a little premature at this stage though.