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I admit I don't know how the business works but I think the team would have to be paid. Reebok isn't in the business of taking in sponsors. If they're using a fight team's name then it's to sell more products, and I think the team would have to take a percentage as a result, if not initially then eventually once the products start selling.
I agree with you in your second paragraph though.
I do know the business and you are correct. Buuuuuut, it's not like it's an impossibility since current sales are not good. They're likely to try anything. And since fighters are in such a weak position, the gym will likely just take a cut of the fighters' 20% per sale.