News Get In! Get Rich! Get Out! (Conor sells off Proper 12! Doubles Net Worth!) - Updated

[KBE6EKCTAH_CCP]

So he is going to make 100-200+ mil *

To sell off his stake in a whiskey made with pre-aged whiskey that they slapped a label on.

pretty sweet deal if you ask me.

This. Master operation by the Ginger.
I really question the valuation on that brand. I mean it really is just a brand. No tangible assets no nothing. Re-packaging white label 3rd party whiskey and likely outsourcing all the distribution, logistics, possibly even the marketing.

I wonder if anyone in that industry could comment. Very interesting.

 

[KBE6EKCTAH_CCP]

Honestly, pushing mediocre hard alcohol is not a good look for a professional athlete. Or anyone, really.

Who GAF about looks, seriously. You are talking about the trashiest fighter in a trashy promotion. He doesn't even care about winning. That guy really came in and made bank and fucked off.

I am the first one to shit on the Ginger as a fighter but he is an astute business man, IMO.

 

[KBE6EKCTAH_CCP]

$40mill, he’d got 2 partners sharing the 51%.

It would also be interesting to see what shares he sold at what valuation over the life of his involvement. And also what is his cost basis for that investment, if any (which I doubt - he probably just provided his name and promotion for a x% stake in the venture).

 

[jeff7b9]

This. Master operation by the Ginger.
I really question the valuation on that brand. I mean it really is just a brand. No tangible assets no nothing. Re-packaging white label 3rd party whiskey and likely outsourcing all the distribution, logistics, possibly even the marketing.

I wonder if anyone in that industry could comment. Very interesting.

I’m not in the business but simple math (and confirmed reporting) show that Proper “12” is relabeled because Conor wasn’t rich and famous 12 years ago. I think I heard it was Bushmills that they source it from.


I’d be curious as to the outsourced redistribution, but would bet green money it isn’t Conor making phone calls and doing sales analytics.
aside from his commercials and plugging the product I doubt Conor does much at all.

I’m guessing Conor met with some business men in the whisky business (at his peak fame) said “I want my own whiskey” and people with the right connections made it happen.

Seems like he is cashing out very nicely and very quickly on “branding” a pre-existing product.
(or at least 80-90% pre existing, I heard they throw a little coloring in there)



Good for him.
No one in MMA has even remotely profited from their fame as well as Conor. and MMA stars in the future will all benefit from his success, we already see fighter pay hitting higher numbers for base pay.

 

[KBE6EKCTAH_CCP]

I’m not in the business but simple math (and confirmed reporting) show that Proper “12” is relabeled because Conor wasn’t rich and famous 12 years ago. I think I heard it was Bushmills that they source it from.


I’d be curious as to the outsourced redistribution, but would bet green money it isn’t Conor making phone calls and doing sales analytics.
aside from his commercials and plugging the product I doubt Conor does much at all.

I’m guessing Conor met with some business men in the whisky business (at his peak fame) said “I want my own whiskey” and people with the right connections made it happen.

Seems like he is cashing out very nicely and very quickly on “branding” a pre-existing product.
(or at least 80-90% pre existing, I heard they throw a little coloring in there)



Good for him.
No one in MMA has even remotely profited from their fame as well as Conor. and MMA stars in the future will all benefit from his success, we already see fighter pay hitting higher numbers for base pay.

Oh for sure Conor personally does nothing. My point is that even the company itself is likely extrrmely lean. Wouldn't be surprised if it's like 10 admin people. All the rest outsourced.

 

[Lawrence]

Conor McGregor bought out of ownership stake in Proper No. Twelve whiskey

Conor McGregor has become just as well known for hawking his whiskey brand over the last few years as he has been for fighting. But his connection with the alcohol company may be loosening.

Over time, Becle increased its ownership stake in the company. First they increased their stake to 49 percent in 2020 at a valuation of $235 million. Then, as Whisky Cast reported on Monday, Becle recently acquired the other 51 percent. The deal for the remaining 51 percent stake is expected to close in the second quarter of 2021.

If Becle now owns 100 percent of the company, that suggests McGregor sold his share for a large amount of money. It also calls into question what kind of association the popular 32-year-old fighter will have with the brand moving forward.

https://larrybrownsports.com/mma/co...nership-stake-proper-no-twelve-whiskey/574675

Edit...

Report: Conor McGregor ‘doubled his net worth’ by selling Proper 12 whiskey
By Jesse Holland Mar 10, 2021, 11:47am EST

I guess ownership isn’t for everyone.

Former Ultimate Fighting Championship (UFC) two-division champion Conor McGregor, who helped found Proper 12 Irish Whiskey back in late 2018, was bought out by the Becle beverage company earlier this month, alongside manager and business partner Audie Attar.

As a result, “Notorious” doubled his net worth.

That’s according to JOE.co, which has McGregor — already valued at $120-$130 million prior to handing over his “Proper” percentage — taking home somewhere in the neighborhood of $130 million. It’s not billionaire status, but I don’t think anyone on the McGregor team is complaining.

https://www.mmamania.com/2021/3/10/...is-net-worth-by-selling-proper-12-whiskey-mma

I think everyone is "assuming" Conor represented the other 51%. I'm thinking that is nowhere near the truth.

Nonetheless.. Buy-outs are usually very good for the seller, and whatever percentage Conor represented at the end, I bet he did great financially with this thing..

Plus the new owners will undoubtedly wish to capture Conor's Trademarking, and continued involvement as spokesman... So more than discount coupons going forward.

He is a silly man out of the cage... But this deal is going to be great for him... Many millions.

 

[CannotWin]

It was announced earlier this week that Mexican beverage company Becle exercised a call option to acquire a 51 percent stake in Eire Born Spirits (EBS), the name behind Proper No. Twelve Irish whiskey. The sale reportedly cost £122 million GBP (approximately $155 million USD) and effectively pushed McGregor’s net worth to over $300 million USD.

https://hypebeast.com/2021/3/conor-...roper-no-twelve-irish-whiskey-sale-info?amp=1

What do you think, buddehs?

 

[Jose Beehive]

https://forums.sherdog.com/threads/...les-net-worth-updated.4166675/#post-163869367

 

[DoNoootin]

Sick of hearing about his net worth tbh. Would like to see him win again.

 

[SpecialDelivery]

DOUBLED his networth to over 300 million. And people mocked him like he lost on the deal
Lmfao idiots

 

[sampuncher]

I read this the other day, anyone got any clue about if Conor is still directly involved? Did he get his shares bought out or anything?

https://www.thesun.co.uk/sport/14206809/conor-mcgregor-proper-no-twelve-takeover-becle/



However Whisky Cast have reported that ‘a little-noticed line in the annual financial statement for Mexican drinks conglomerate Becle could mean the impending end’ of McGregor’s relationship with Proper No. Twelve.
EBS (Eire Born Spirits) is the name of the company McGregor founded along with his manager, Paradigm Sports Management CEO Audie Attar and spirits industry entrepreneur Ken Austin to bring their whiskey out on the market three years ago.

Becle is the holding company for the Beckmann family’s extensive spirits portfolio and their influence has grown over the past few years due to the acquisitions of the Old Bushmills Distillery in Ireland and the Bushmills Irish Whiskey brand, in addition to Three Olives Vodka and Kraken Rum. Becle held a 20 per cent stake in EBS at the time and ‘used its resources and personnel at Bushmills to produce the whiskey’. And Proximo Spirits, Becle’s US subsidiary, holds the American distribution rights for Proper No. Twelve.

Wine & Spirits Daily claimed in 2020 that Becle exercised an option to increase its ownership stake to 49 per cent in a bumper deal that valued the company around £169m.
Now a Becle news release has announced: “On February 23, 2021, the Company provided notice of the exercise of its call option to acquire 51 per cent of the equity interests of EBS.”

A Becle spokesman confirmed to WhiskyCast that the option covers the remaining equity in EBS with the deal expected to close in the second quarter of 2021.

However, the statement made no mention of the fact that Becle already owned 49 per cent of the equity in EBS.

Proximo Spirits CEO Mike Keyes referred to Proper No. Twelve as the ‘fastest growing brand in the Irish whiskey category’ in the Becle conference call last week.

When Becle were asked whether McGregor will have an ongoing role with Proper No. Twelve after the deal closes now he will no longer have a controlling ownership ownership stake, they declined to comment.