WWE Hall of Famer Eric Bischoff was once a single phone call away from owning the UFC for $2.5 million, and he turned it down.
The former WCW executive revealed on his podcast, 83 Weeks, that he was offered the chance to buy the promotion during its troubled early days but decided he had nothing to bring to the table.
The opportunity came at a low point for the company, when the UFC was fighting to stay alive rather than build an empire. Bischoff passed, then watched the promotion grow into one of the most valuable properties in combat sports under different ownership.
The subject came up while Bischoff reflected on the UFC’s recent event staged on the White House lawn, a production he said left him stunned.
The $2.5 Million UFC Offer Bischoff Walked Away From
Bischoff recalled the night the offer landed, framing it against the company’s bleak circumstances at the time.
I remember getting a phone call one Friday night when I was out having a beer with my wife, and the guy that was in top management called me, said, ‘Hey, would you like to buy the UFC for 2.5 million?'” Bischoff recalled.
The promotion was barely able to operate.
UFC couldn’t get into venues. There were states trying to outlaw them, John McCain was pressuring,” he said.
Despite his interest in the brand, Bischoff did not see a path forward.
I was interested in the brand, but not interested in the acquisition, because I didn’t feel like there was anything I could contribute to turn anything around. So I passed on that.
He marveled at what the company became under different stewardship.
If you look at what Dana White did, the Fertittas coming in, they lost over $350 million on UFC before they made their first nickel,” Bischoff said. “That’s a commitment.
Bischoff Stunned By UFC’s White House Production
The conversation started with the UFC’s outdoor show on the White House lawn, an event Bischoff, who produced large-scale live shows during his WCW days, called daunting from a logistics standpoint.
What did I think of the event? Mind-boggling,” Bischoff said. “I had PTSD symptoms weeks before the event, worrying about things I had no reason to worry about in terms of logistics.
He explained why staging a live sporting event outdoors is so risky.
The complexity of doing a live sporting event outside is fraught. Everything from the weather to the wind to security issues, you name it, it can go wrong.” Seeing it executed cleanly, he added, was striking. “To see the event come off as well as it did from a production perspective was very, very impressive.
Bischoff used the moment to praise UFC CEO Dana White, drawing a line between a promoter and a businessman. He put White in the same conversation as Vince McMahon.
You cannot look at what Vince McMahon built and not respect it, if you’re honest at all, controversy aside,” Bischoff said. “If you look at Dana White, they’re businessmen. Calling them promoters is unfair. These are highly successful businessmen.
Bischoff’s perspective comes from his own work in combat sports, where he recently said Real American Freestyle is “the most fun thing I’ve ever done.”