Venum will be the next exclusive global outfitting and apparel partner of the UFC according to the company. The announcement was made Friday morning ahead of UFC 251 faceoffs by Zuffa’s Chief Operating Officer Lawrence Epstein.
The UFC will debut the Venum fight kits in April 2021. According to Epstein, the change in clothing sponsors will mean additional pay to fighters for donning the kits.
Epstein said that the sponsor it was looking for would be one with a background in mixed martial arts. Addressing the money issue, Epstein indicated a “meaningful increase” in fighter pay related to the current state of fighter compensation associated with the company’s outfitting policy and Promotional Guidelines Compliance program.
Venum has been a part of combat sports since its inception in 2006. Its headquarters are located in France. The brand was created by Franck Dupuis who started it as an online storefront catering to the emerging sport of MMA.
According to the UFC announcement, the deal was brokered by IMG’s licensing business which represents the UFC.
In 2014, the UFC signed its first merchandising deal with Reebok for 6 years and $70 million.
Payout Perspective:
This is an interesting choice of sponsors as one would think that the UFC would segue to another mainstream clothing sponsor such as an Under Armour, Nike or Adidas (although Reebok is a subsidiary). However, Under Armour is having financial issues and it does not appear Nike or Adidas were interested or would not give Zuffa the money it was seeking. Re-upping with Reebok could have been an option although the feeling was that the company wanted to go elsewhere. Venum is a known brand within the MMA world and this is a great deal as it elevates the brand awareness for the company. We will see how long this deal is for as one might think that the deal is shorter than Reebok’s six-year pact with the company.
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