Jake Paul and team respond to Engine No. 1 claiming they have no connection with the YouTuber's purchase of UFC shares
Jake Paul's business partner Geoffrey Woo has clarified the YouTube star's involvement with investment firm Engine No.1 regarding his purchase of UFC shares.
Aaron Bronsteter of TSN reported that Engine No.1 has "no involvement with Jake Paul and his financial partner Geoffrey Woo investing in EDR (Endeavor) stock." However, Woo responded by saying they made no claims that a partnership was already in place. Instead, Woo explained that Paul is merely in the stage of reaching out to Engine No.1. On Twitter, Woo wrote:
"To reiterate Jake’s announcement: We’re reaching out to Engine No.1, top impact investors & existing shareholders and inviting them to join us in bettering fighter economics & contract rights, and by doing so, enhance EDR/@ufc share value. We hope you can support vs. discredit"
To reiterate Jake’s announcement:
We’re reaching out to Engine No.1, top impact investors & existing shareholders and inviting them to join us in bettering fighter economics & contract rights, and by doing so, enhance EDR/@ufc share value.
We hope you can support vs. discredit twitter.com/aaronbronstete…
This comes after Paul revealed that he's taking action in his campaign to increase fighter pay by investing in Endeavor, the parent company of the UFC. On Tuesday, the boxing star announced:
"I’ve invested in EDR [UFC] stock with my partner @geoffreywoo 2 focus on UFCs ESG standards relating to fighters. We believe EDR can drive long-term economic value by increasing UFC fighter pay & providing them healthcare. Reaching out to @EngineNo_1 to partner on this 'endeavor'"
I’ve invested in EDR (UFC) stock with my partner @geoffreywoo 2 focus on UFCs ESG standards relating to fighters. We believe EDR can drive long-term economic value by increasing UFC fighter pay & providing them healthcare. Reaching out to @EngineNo_1 to partner on this “endeavor”
Engine No.1 is an American activist and impact investing hedge fund. The company is known to support causes that positively affect environmental and social concerns.
Jake Paul's feud with the UFC
Jake Paul has had a longstanding feud with UFC president Dana White regarding fighter pay and the promotion's business model. The YouTuber has been critical of the UFC boss, even labeling him a "greedy b****" in one of his videos.
The issue of fighter pay in the UFC was once again brought to the spotlight due to White's ongoing contract dispute with Francis Ngannou. 'The Predator' claimed that the company hasn't been treating him with respect, which led to him threatening to leave for free-agency.
Francis Ngannou deserves much better than the lies and disrespect Dana White has shown him and his manager. It’s time for everyone to say Fuck Dana White and support the men and women who put their bodies at risk to make him fat and rich. #FuckDana
Paul recently expressed his support for Ngannou in a recent tweet. 'The Problem Child' stated that Ngannou "deserves much better than the lies and disrespect" from White and the UFC.