Why did Conor McGregor sell Proper 12? Looking at the UFC star's vision for his Irish whiskey brand
Conor McGregor's business acumen has consistently garnered him widespread laudation worldwide. Right from the Irishman's Proper 12 brand (Proper No. Twelve Irish Whiskey) to his real estate venture and other business endeavors, he's showcased tremendous intellect and daring in terms of diversifying his business empire.
Additionally, the former UFC featherweight and lightweight champion has long been heralded as one of the biggest draws of all time, not only in the combat sports sphere but in all of sports and entertainment. His recent Hollywood debut, as 'Knox' in the 'Road House' (2024) movie, is said to have made him the highest-paid debutant actor and is yet another testament to his Midas touch.
Today, we take a closer look at one of the most famous business creations gifted to the world by 'The Notorious.'
Why did Conor McGregor sell Proper 12? Looking at the UFC star's vision for his Irish whiskey brand
Conor McGregor launched his Irish whiskey brand, Proper No. Twelve, in 2018. The Dublin-born business tycoon and combat sports megastar vigorously promoted the brand and ensured its popularity skyrocketed in the spirits industry.
In about two-and-a-half years, the Proper 12 brand sold over 6 million bottles. Furthermore, McGregor eventually chose to take things up a notch, by agreeing to a multi-million-dollar sale of the brand's stakes in 2021.
McGregor, his manager/longtime business associate Audie Attar, and their business partner Ken Austin held significant stakes in the Proper No. Twelve brand when it launched in 2018. The trio inked a lucrative deal to sell their stakes to world-renowned alcoholic beverage company, Proximo Spirits.
Proximo, which owned 49 percent stakes in the brand before that, became the majority owner of Proper 12 after their 2021 deal that was reportedly worth around $600 million (more than €500 million ) at the time. The $600 million included the $250 million sum that Conor McGregor and his business partners earned during the two-and-a-half-year period after its launch.
Ergo, speculation abounded that McGregor, Attar, and Austin likely secured more than $100 million respectively, at the very least, from the sale. One ought to note that 'The Notorious' still owns stakes in Proper No. Twelve Irish Whiskey and has unwaveringly continued his support for and promotion of the reputable brand.
As reported by the Irish Mirror in 2021, Conor McGregor and then-Proximo President and CEO Mike Keyes suggested that the sale would help Proper 12 ascend to even greater heights of business success in the beverage industry.
The UFC great, who'll return to the octagon at UFC 303 on June 29, 2024, notably addressed the Proper 12 sale back in 2021. An excerpt from the assessment put forth by 'The Notorious' read as follows:
"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."