UFC to spend around $60m on White House event

The UFC will spend around $60m (£44.3m) on its one-of-a-kind event at the White House, according to TKO Group Holdings chief Mark Shapiro.

The promotion is set to host an unprecedented show at the White House on 14 June to mark 250 years of American independence.

US President Donald Trump announced the plans last year, which have been confirmed by UFC president Dana White and the promotion’s parent company, TKO Group Holdings.

The UFC will not profit from the event, according to TKO president and chief operating officer Shapiro, who sees the show as “an investment for the long term” which is about “earned media”.

He added that TKO is working with “corporate partners”, whose investment he hopes will offset about $30m (£22.2m) of the cost.

“I want to be clear about something: we will not profit from the White House event independently. We will not be making money on America’s 250th anniversary,” said Shapiro.

“Bottom line is, it’s still a moving target. Even if that $60m goes up, or rides up on us, we believe we can offset half of the spend. Today, we see it as $60m offsetting $30m.”

The UFC has not confirmed its full plans for the event, but White has said he expects there to be around 5000 spectators for the show on the White House South Lawn.

He added there will be around 80,000 further fans watching at a nearby park in Washington DC called the Ellipse.

Trump, who is close friends with White, has said the fights on the card will be the “biggest they’ve ever had” but the UFC are yet to confirm any bouts.