Conor McGregor, the #6 ranked UFC lightweight, has recently liquidated some of his holdings in his whiskey company Proper No. Twelve. The New Jersey-based liquor distributor Proximo Spirits will become the majority shareholder, while McGregor will maintain a stake in the company and will continue in his capacity of brand ambassador.
“I founded Proper No. Twelve less than three years ago and today it has become a shining star in the spirits industry,” McGregor said in a press release. “This agreement is exciting for my partners and me, and the potential is limitless! Our vision is for Proper No. Twelve to continue its incredible growth worldwide and to keep bringing new consumers to the now-reinvigorated Irish whiskey market.”
Proximo, which increased its stake to 49% last spring, will now have majority ownership. According to co-founder Audie Attar, the further developments will generate a value to the tune of $350 million for him, McGregor, and their third partner Ken Austin. The three have already made $250 million from the Proximo partnership.
“Conor McGregor, Proximo and our partners have taken the spirits world by storm,” said Mike Keyes, President & CEO of Proximo. “When we launched, the Irish whiskey market was dominated by one brand. Now, Proper No. Twelve has disrupted the category and has become a leading brand in the industry. We are thrilled with what we and our partners have achieved in growing Proper No. Twelve to this point, and we look forward to continued success together. This agreement also demonstrates Proximo’s commitment to expand its presence in the fastest-growing segments of the spirits industry.”
Ken Austin, Co-Founder and Co-Chairman of Proper No. Twelve added, “We launched Proper No. Twelve just a few years ago and our efforts have been magical. I am proud of our team and even more proud that we have been able to use this business as a platform to give back by donating millions of dollars to first responders around the world.”
Conor McGregor and Dustin Poirier: Money Troubles
Conor McGregor will have a rubber match with his lightweight rival Dustin “The Diamond” Poirier on July 10th, which will serve as a focal point for further marketing, according to Proximo CEO Mike Keyes. McGregor knocked out Poirier in their first clash at featherweight in 2014, with Poirier repaying him in kind in January of this year at lightweight.
The cash injection from the sale will likely be welcome news to Conor McGregor, who was recently embroiled with a spat with Poirier over McGregor’s failure to pay a promised $500 thousand dollar sum to Poirier’s charity, the Good Fight Foundation. McGregor would eventually pay the money to a different Louisiana charity, the Boys & Girls Club of Acadiana.
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