Yao Ming’s Firm Buys Stake in Glory Kickboxing
Yao Ming's private equity firm, Yao Capital, has acquired a significant stake in kickboxing organization Glory Kickboxing, reports ESPN. Details of the deal were not disclosed.
According to the report, the fighting promotion is preparing to launch a host of events in the Asian market. Since launching in 2012, it has held 36 events.
Glory CEO Jon Franklin says that the $4 billion deal for the UFC this summer had an effect on valuation of all MMA brands. However, Glory has not seen the same growth as the UFC, specifically in the U.S. market.
If you're unfamiliar with Glory, it's rules come from a mix of kung fu, Muay Thai, taekwondo and boxing.
In addition to Glory, Yao Ming has also owned a Chinese basketball team, the Shanghai Sharks, and a winery in Napa Valley called Yao Family Wines since 2009.