Lorenzo Fertitta is probably a name you have never heard of but I’m nearly certain you might have heard or seen the Ultimate Fighting Championship. It’s a combative sport with a combination of kickboxing, martial arts and wrestling all in a cage. The Financial Times reports the Lorenzo and his brother bought the company for $2million in a period when the sport was almost extinct with no compelling interest.
After, the purchase the owners began the turn around by rebuilding its battered brand. This was achieved by engaging medical researchers who developed safer ways of making athletes fight safer. They eliminated things like head-butting, groin attacks etc. Next step was to draw audiences via free to air broadcast.
The company now makes about $500million annual in revenues and still has potential to make more as it plans to expand to Asia. They also will expand into the gaming business with EA already developing a gaming platform.
I highlighted this article to show how a combination different ideas , fresh capital and research can help change the course of a business or even an industry.
You can read the full article from FT.Com Here