Conor McGregor has sold a major stake in his whiskey brand in a deal with up to $600m (£430m).
Proximo Spirits already held a 49 per cent stake in McGregor’s Proper No Twelve company, and have no acquired a majority share.
The $600m will be split between McGregor and his fellow co-founders: his agent Audie Attar and their business partner Ken Austin. Included in the payment is $250m already earned in the brand’s first two years of business with Proximo, Austin said.
McGregor, a former two-weight UFC world champion, has used his vast social media platform of 8.6m followers on Twitter and nearly 40m followers on Instagram to promote Proper No Twelve.
The Irishman, who is due to fight Dustin Poirier for the third time in July, is set to continue fronting the brand despite his receding stake in the company.
“Proper Twelve is my baby for life!” McGregor said in a statement to his website, The Mac Life. “I’m only warming up the barrels here! What I have in store for you all will not only take Proper Twelve to the absolute pinnacle of Irish whiskey, but of all spirits!”
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