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The parent company of DREAM and K-1, Fighting and Entertainment Group (FEG) held a press conference on Friday to announce a new partnership with a Chinese investment group called PUJI Capital, a deal that could be worth over 200 million dollars.
During the press conference, K-1 president Sadaharu Tanikawa declared war against the UFC and pro wrestling promotion WWE. "This is a declaration of war against WWE and UFC. From Asia, we will take over the world," stated Tanikawa.
Later during the same press conference, Tanikawa claimed that ito39;s basically an impossible task to try and compete in the U.S. "We wono39;t stand a chance in the American market, so we will spread to the rest of the world," said the K-1 president.
So what exactly is the war being fought over? Tanikawa claims they are going to fight to make the Japanese MMA market more relevant in the international MMA picture. "When K-1 and PRIDE were competing against each other, 80 percent of the martial arts market was in Japan. It is now the opposite and Japan is only 20 percent. We were worried that Japan would be left behind if we let this continue, it is unacceptable. We needed to change our business model."
During the press conference, K-1 president Sadaharu Tanikawa declared war against the UFC and pro wrestling promotion WWE. "This is a declaration of war against WWE and UFC. From Asia, we will take over the world," stated Tanikawa.
Later during the same press conference, Tanikawa claimed that ito39;s basically an impossible task to try and compete in the U.S. "We wono39;t stand a chance in the American market, so we will spread to the rest of the world," said the K-1 president.
So what exactly is the war being fought over? Tanikawa claims they are going to fight to make the Japanese MMA market more relevant in the international MMA picture. "When K-1 and PRIDE were competing against each other, 80 percent of the martial arts market was in Japan. It is now the opposite and Japan is only 20 percent. We were worried that Japan would be left behind if we let this continue, it is unacceptable. We needed to change our business model."
DREAM and K-1 promoter FEG today announced that they are entering a partnership with Shanghai based investment bank PUJI Capital that could be worth 20 billion yen (~US$230 million).
K-1 President Sadaharu Tanikawa stressed that FEG had not been sold and in fact they will now be setting ito39;s sights much higher.
"This is a declaration of war against the WWE and UFC. From Asia, we will take the world", Tanikawa stated.
Tanikawa admitted that expansion to American soil would be futile at this stage and under the watchful eye of K-1 creator Kazuyoshi Ishii, they will set their sights on the rest of the world.
"Mr. Ishii is completely supporting us. We wono39;t stand a chance in the American market so we will spread to the rest of the world."
Tanikawa stated that changes should start from 2011 and that Japanese events will continue with K-1 on Fuji TV and DREAM and K-1 MAX on TBS. PUJI will not be involved with the day to day operations regarding the actual promotions but will instead be in charge of fund raising and leading the global expansion. and have forecast that they will gather 20 billion yen (~US$230 million).
A call for a drastic change in Japanese MMA has been needed since the collapse of PRIDE, even Tanikawa admitted himself.
"When K-1 and PRIDE were competing against each other, 80% of the martial arts market was in Japan. It is now the opposite and Japan is only 20%. We were worried that Japan would be left behind if we let this continue, it is unacceptable. We needed to change our business model."
"Weo39;ve let Dana White get a lead on us. Before (Shinya) Aoki beats (Gilbert) Melendez, we must win as promoters."
DREAM EP Keiichi Sasahara, FEGo39;s Korean representative and PUJI representative Michael Chen outlined the plan for global expansion but predictably sights are set firmly on Asia initially with Europe to follow with the US market described as too developed and not lucrative.
K-1 President Sadaharu Tanikawa stressed that FEG had not been sold and in fact they will now be setting ito39;s sights much higher.
"This is a declaration of war against the WWE and UFC. From Asia, we will take the world", Tanikawa stated.
Tanikawa admitted that expansion to American soil would be futile at this stage and under the watchful eye of K-1 creator Kazuyoshi Ishii, they will set their sights on the rest of the world.
"Mr. Ishii is completely supporting us. We wono39;t stand a chance in the American market so we will spread to the rest of the world."
Tanikawa stated that changes should start from 2011 and that Japanese events will continue with K-1 on Fuji TV and DREAM and K-1 MAX on TBS. PUJI will not be involved with the day to day operations regarding the actual promotions but will instead be in charge of fund raising and leading the global expansion. and have forecast that they will gather 20 billion yen (~US$230 million).
A call for a drastic change in Japanese MMA has been needed since the collapse of PRIDE, even Tanikawa admitted himself.
"When K-1 and PRIDE were competing against each other, 80% of the martial arts market was in Japan. It is now the opposite and Japan is only 20%. We were worried that Japan would be left behind if we let this continue, it is unacceptable. We needed to change our business model."
"Weo39;ve let Dana White get a lead on us. Before (Shinya) Aoki beats (Gilbert) Melendez, we must win as promoters."
DREAM EP Keiichi Sasahara, FEGo39;s Korean representative and PUJI representative Michael Chen outlined the plan for global expansion but predictably sights are set firmly on Asia initially with Europe to follow with the US market described as too developed and not lucrative.
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