'Resource allocation' blamed for Showtime shutdown as Stephen Espinoza speaks on confirmed move
US-based premium television network Showtime has long been known for producing some of the biggest events in the history of combat sports, both in the worlds of boxing and MMA.
With fights like Mike Tyson vs Lennox Lewis and Floyd Mayweather vs Conor McGregor airing on the network, the idea of combat sports without it would’ve been unthinkable a few years ago.
However, based on some news that was released today (October 17), combat sports fans will need to get used to a world without the veteran broadcaster.
According to journalist Michael Benson on X (formerly Twitter) (via Sports Business Journal), it has been confirmed that Showtime Sports, including its boxing division, will be shut down at the end of 2023.
"Now officially confirmed that Showtime Sports, including Showtime Boxing, will be shutting down at the end of this year. Stephen Espinoza is reportedly being laid off and has said in a statement: “The company’s decision is not a reflection of the work we have done in recent years, nor of our long and proud history… Unfortunately, in a rapidly evolving media marketplace, the company has had to make difficult choices allocating resources, resetting priorities and reshaping its content offering. While today’s news is certainly difficult and disappointing, it is entirely out of our control," Benson's tweet read.
According to Benson, Stephen Espinoza, who is the President of the network’s sports branch, is being laid off and has been quoted as blaming “difficult choices” for the decision.
Earlier this month it was reported that Al Haymon’s Premier Boxing Champions promotion would likely leave Showtime to move to Amazon Prime when its current deal with the network ends.
UFC CEO Dana White, meanwhile, was seen commenting on rumours of the rival promotion's demise last month. Unsurprisingly, he was utterly scathing in his comments after sarcastically calling the decision “incredibly unfortunate”.
What did Showtime’s Stephen Espinoza say about the UFC recently?
Showtime Sports, including its boxing division, might shut its doors at the end of 2023, but the network has still produced some major fights recently.
As recently as last month, the big boxing match between pound-for-pound king Canelo Alvarez and rival Jermell Charlo was aired on the network.
The fight reportedly drew between 650,000 and 700,000 pay-per-view buys and also proved to be a hit when it came to the live gate.
The success of the event led the boxing promotion's President Stephen Espinoza to take a shot at the UFC’s Dana White, who has often been a rival of his.
He was quoted as saying that “not all combat sports is the same” before stating that Canelo vs Charlo had drawn a gate of over $20m – something the UFC had never done.
The UFC’s record gate came in 2016 when Conor McGregor and Eddie Alvarez bought in over $17m in ticket sales for their bout at UFC 205 in New York City.