Conor McGregor, the renowned mixed martial arts (MMA) star, has received a significant financial boost to expand his brand worldwide through his main promotions company. According to newly filed accounts by McGregor Sports and Entertainment Ltd, the firm's loans increased by €27.3 million, reaching a total of €35.83 million by the end of last year. This injection of funds led to a rise in the company's cash reserves from €9.56 million to €13.59 million.
The provision of additional funds aligns with recent plans revealed by a spokesperson for McGregor's Black Forge Inn pub and restaurant in Crumlin, expressing intentions to expand McGregor's Black Forge Inn brand with the aim of becoming the most iconic Irish pub globally. As an example, the spokesperson highlighted the successful Black Forge Inn pop-up in Abu Dhabi during the Formula One Grand Prix, where McGregor spared no expense in showcasing the excellence of Ireland in their remarkable establishment. Notably, the company invested €272,275 solely in the purchase of new motor vehicles for the pub last year.
McGregor Sports and Entertainment Ltd primarily engages in the production of online news content, sports promotion, and endorsements. The company has also been actively leading Conor McGregor's efforts to register the McGregor brand throughout the European Union.
However, the latest accounts indicate a negative swing in the firm's profit and loss, resulting in an accumulated loss of €216,003 at the end of 2021, compared to an accumulated profit of €608,590 at the end of December 2020. In 2020, the company recorded profits of €739,239, and €533,621 in 2019. Despite these financial challenges, McGregor remains a prominent figure in the sporting world, ranking 35th in Forbes' 2022 list of highest-earning athletes, with earnings of $43 million over a 12-month period.
Although McGregor had only two appearances in the Octagon in 2021, both resulting in losses to Dustin Poirier via technical knockouts, his bouts continue to command significant paydays, supplemented further by his share of pay-per-view sales.
Established in July 2014 to capitalize on McGregor's earning potential, McGregor Sports and Entertainment Ltd had its accounts signed off on November 18. McGregor's long-term partner, Dee Devlin, serves as a director of the company, alongside his close friend Alan Geraghty, who also holds the position of chief executive at McGregor Sports and Entertainment.