Ahead of the Bare Knuckle Fighting Championship’s (BKFC) year-end blowout event this weekend, promotion president David Feldman has revealed some big plans for 2024, including plans for a free agent “signing spree” by way of a massive investment from the Middle East.
BKFC has only existed since 2018, however, the bare-knuckle boxing organization has made a lot of progress in the fight sports business in a short amount of time. They have carved out a notable niche in the industry by bringing an old-school sport back to prominence in the modern era.
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Bare-knuckle boxing is now legal in 25 states and the brand has recently expanded its reach to South East Asia and Eastern Europe. BKFC 56 on Saturday night is set to be the company’s biggest event yet and will feature former UFC lightweight champion Eddie Alvarez in the main event. However, David Feldman believes there are still more key mountains to climb to help BKFC grow further.
David Feldman expects a BKFC free agent ‘signing spree’ early in 2024
Yet, just like any other industry, you have to spend money to make money and in the combat sports business, companies need a lot of it to make big leaps in brand recognition. Strong talent is a key element of an elite fight company and the BKFC president understands that his already strong roster needs to be bigger and better for the brand to reach its potential.
That is why Feldman is planning to make an impact in combat sports free agency early next year by adding some big-name boxers and meeting their high contract demands with a “humongous” influx of funds he expects to have in 2024.
“I’m getting reached out to by a lot of boxers,” Feldman told Sportsnaut. “I think in February we are probably going to go on a big signing spree. Mid-January to February. We are locking up a humongous funding round with a major investor that’s really going to turn a corner for us again. That’s going to allow us to get the bigger names.
“The boxers want a little more money than these MMA guys. Although we are paying these guys top dollar. But the boxers in the big fights can make more than the MMA guys … I think it’s going to be an interesting year.”
The big question then is where are these funds coming from? Well, like many other major Western leagues and promotions, it seems BKFC will soon have a business relationship with one of the wealthy governments or royal families in the Middle East.
“I’m actually heading in mid-December to the Middle East,” Feldman revealed. “I have a bunch of meetings set up in different countries and different people out there. I’m very excited to come back from there because I think we’re really going to get something done. I have a ton of guys that want to invest in the company. But my big thing about taking on investment is I am not just looking for money. I want the right strategic investor behind it.
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“… We’re at a really great spot right now. We have a ton of interest in what we’re doing from a ton of institutional investors.”
The Saudi Arabia Public Investment Fund, as well as other wealthy nations and families from the region, have made a lot of noise in the sports world over the last few years. The PIF alone has minority ownership stakes in an English Premier League club and the Professional Fighters League, and they are the owners of the popular golf league LIV Golf.
BKFC also aiming for a big broadcast deal in 2024
Along with being players in free agency next year, the BKFC president also sees a new and bigger broadcast deal as a key element in the company’s continued growth. Feldman claims the company is in negotiations with several “major” networks and news on a finalized deal should come soon.
“One hundred percent [the next big move] is a television/OTT platform deal without a doubt,” he said. “We’re in talks with some major players now in that aspect and we expect to close something out in the next 30 to 60 days. But that’s definitely the next road that we have to cross to widen this.”
BKFC content currently airs on streaming services FITE TV, Fubo Sports, and on the company’s app. Feldman revealed that the BKFC app could see some notable changes in the new year with plans for more free content, because in his mind once fight fans get their eyes on their product, they often get hooked and become “repeat customers” for the brand.