Paramount signs Zuffa Boxing. Dana White insists he has one more big run.
CBS has new UFC myths for viewers not listening to Mark Shapiro's sales pitch.
Last week, Paramount finalized negotiations with TKO to sign a Zuffa Boxing media rights deal. The official announcement was made at 8 AM Eastern USA time on Monday morning before the New York Stock Exchange opened.
Initial terms of the PSKY-Zuffa Boxing agreement, as noted in this press release:
12 Zuffa Boxing events in 2026, with a potential event increase in future years;
Paramount will have Zuffa Boxing rights for America, Canada, and Latin America
Adam Stern of Sports Business Journal is reporting that Dana White is aiming to sign 400-450 boxers. Eric Fisher at Front Office Sports is reporting that the PSKY-Zuffa Boxing deal is five years in length.
Brian Campbell at CBS Sports has the full details, including a one-on-one interview with Dana White. When asked if he needed the Ali Revival Act to pass to run Zuffa Boxing, Mr. White said “no.”
According to UFC-connected sources (on background), Dana White recorded media content last week — while posting a cigar picture online — and has been preparing for an upcoming meeting with Paramount executives to discuss UFC 2026 event plans. This includes a cursory review of the upcoming UFC White House event.
There’s a high probability that the UFC White House spectacle will be financially supported by the America250 commission. As we reported last week at The MMA Draw, America250 is requesting $100M in budget appropriations. Your taxpayer cash, one way or another, will help pay for servicing the UFC White House event.
The CBS hype machine is already in action, as based on a Sunday interview published with 60 Minutes. It was a completely ridiculous video package in many respects.
This 60 Minutes interview pushed every button from both the old Zuffa Myth (buying a distressed property, cleaning it up, becoming a semi-billionaire on his own accord) and a new Zuffa Myth that Dana White is still large-and-in-charge and running the show.
“White is chief author of the greatest sports business story of this century. Maybe ever.”
“Now 56, he runs a global league valued at more than $15 billion dollars. 675 fighters under contract.”
“The entire business is built more on White’s force of personality than on a traditional playbook.”
In a perfectly crafted Endeavor media hook, 60 Minutes featured Dana White gambling at the Bellagio. He was losing his shirt at baccarat.
“I’m a sick, sick guy. That’s the only explanation I can give you.”
And just like a producer calling the shots in filming a movie scene, Dana White was in the hole… before managing to somehow, miraculously, turn a loud red deficit into a green stream of profit and cash out with $700,000 in winnings. The man who Casino reports is at least $25 million in the hole (allegedly) at Red Rock Casino is winning big at Bellagio.
Images of a cashier’s desk with stacks of greenbacks permeated the screen, setting up this narration.
“Another win for White’s instincts. His gut proved golden once again in August when Paramount-Skydance outbid others and offered the UFC $7.7 billion over seven years for US media rights, putting the UFC right up there with other major sports leagues.”
“I have a deal here that would make Roger Goodell and every other guy go holy shit. I got a damn good deal. Listen, man. The business has worked just fine. The model isn’t broken. You know, I love when people who have no idea what they’re talking about.”
Dana White got the Paramount deal? The Great Pretending continues.
Is it purposeful that Dana continues to be on a different page than Mark Shapiro?
Meanwhile, Mark Shapiro can’t shut up on the self-promotional business seminar circuit. Mr. Shapiro is constantly bragging about what a genius he is in negotiating media rights and selling advertising inventory.
Why the communications disconnect and bifurcation by TKO between the Mark Shapiro and Dana White business narratives? Easy. 60 Minutes is for a Boomer audience, just like Hannity on Fox News. Mark Shapiro is talking to Wall Street and terminally online news consumers. Readers of The MMA Draw know that the real powers-that-be in TKO media rights affairs are: Ari Emanuel, Nick Khan, and advertising hustler Grant Norris-Jones. Just don’t expect the new Paramount under Larry & David Ellison and Redbird Capital (Gerry Cardinale & Andy Gordon) to be name-dropping Ari unless it’s on really favorable terms.
At age 56, Dana White has to maintain a public image that he’s a rags-to-riches self-made millionaire who defied the odds through wit and guile. Mr. White has to continue to disprove the notion that he’s in Brand Ambassador mode with UFC.
Enter Zuffa Boxing.
Today’s announcement between Paramount and UFC was recently described by a market analyst as “a call option” opportunity on TKO. If you believe the boxing portfolio will take off under the leadership of Nick Khan and Ike Epstein, then TKO has growth value as a stock. Mark Shapiro has been keenly aware of lowering expectations with institutional players on Wall Street, but the future of Zuffa Boxing — and Dana White’s remaining time with TKO — is in the hands of Nick Khan, the non-stop networking machine.
Let the 1980s-style Vince McMahon wrestling territory-style raids begin against the other boxing promoters.
Zach Arnold is the lead opinion writer for The MMA Draw Newsletter on Substack. You can e-mail him at fightopinion - at - protonmail dot com.