Former UFC double champ Conor McGregor launched the Irish whiskey brand Proper 12 back in 2018. Now, less than three years later, he appears to have made his exit.
According to a recent press release, the Mexican beverage company Becle has fully bought McGregor out of his share of Proper 12.
McGregor and his manager Audie Attar used a company by the name of Eire Born Spirits for their Proper 12 holdings.
“Net financial result was a loss of P$7 million pesos during the fourth quarter of 2020 compared to a gain of P$17 million pesos in the same period of 2019,” the press release read. “This loss was mainly derived from net interest expenses as well as the Mexican peso appreciation versus the U.S. dollar when compared to the third quarter of 2020, partially offset by the recognition of the fair value of the Company’s call option to acquire 51% of the equity interests of Eire Born Spirits LLC (EBS).”
This past February, Becle, which owned 49 percent of EBS already, had the option to purchase the remaining 51 percent.
“The Company has a call option to acquire 51% of the equity interests of EBS,” the press release continued. “According to IFRS 9 and IAS 32, as of December 31, 2020, the 51% option is classified and measured as an asset (financial instrument) on the consolidated statement of financial position and is classified and measured at Fair Value through Profit and Loss (FVTPL). The FVTPL resulted in a $304 million pesos gain in the changes in the fair value of financial instruments within the net financial results line in the consolidated income statement.”
Given what a popular spokesman McGregor has been for Proper 12, many immediately wondered how much the Irish champion walked away with from this deal.
At the moment, the answer is unclear.
Plus, it’s equally uncertain what McGregor’ future with Proper 12 as a brand ambassador is. As recently as yesterday he was still pushing the product.
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While McGregor’s earnings from his UFC fights are a matter of public record, his take home amount from the Proper 12 sale is not.
That said, if he can afford million dollar sex watches, it’s safe to assume McGregor isn’t too hard up for cash right now.
Details regarding what McGregor made from the Proper 12 deal should emerge in the coming weeks and months.
Klay knows how to do Valentine’s Day right. https://t.co/Gxt1gRLTX2
— Game 7 (@game7__) February 15, 2021
The sale of Proper 12 will also free McGregor up to focus on fighting 100 percent. His most recent UFC bout was a second round TKO loss to Dustin Poirier.
All signs currently point to the pair fighting once more in a few months, but thus far nothing has been set for certain.