The plan never was to recoup $400 million via ad revenues any more than UFC or Twitter was looking to immediately recoup their entire investment in the venture via ad revenues over the initial 9 months of their businesses. As I understand it, the plan was to build an organization that had value that exceeded the amount of the investment. Has it happened? Not yet...but what startup is fully recouped after 9 months? Certainly no recent startup of this size has been.
And why do any of us care? Hedge funds lose money all the time - literally on a daily basis - and no one sheds a tear.
Haymon took a shot with hedge fund money and it may not pan out...so what? At least he took a shot at trying to expand the sport, which is a hell of a lot more than any boxing promoter is doing.
And why do any of us care? Hedge funds lose money all the time - literally on a daily basis - and no one sheds a tear.
Haymon took a shot with hedge fund money and it may not pan out...so what? At least he took a shot at trying to expand the sport, which is a hell of a lot more than any boxing promoter is doing.
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