It appears UFC superstar, former-double champion Conor McGregor is in trouble after signs point to him losing a controlling interest in his whiskey company, Proper No.12. Irish Whiskey.
The company was built with the help of McGregor’s manager, Audie Attar alongside investor Ken Austin. Since Conor McGregor’s whiskey business is dependent on Austin and his affiliation with Eire Born Spirits (EBS), the athlete is tied to them business-wise. A different spirits company called Becle decided to buy shares from Austin’s EBS which also owns the popular Jose Quervo Tequilla brand. With Becle’s plans to increase shares of EBS by 51%, it would also affect the UFC superstar’s control of his business and its bottom line.
“On February 23, 2021, the Company provided notice of the exercise of its call option to acquire 51% of the equity interests of EBS,” Becle announced in a financial disclosure first reported by Whisky Cast.
Following the notice, Becle contacted Whisky Cast to inform them that they indeed would be exercising their option to acquire 51% of the equity interests of EBS. However, just because Becle enacted this option, does not mean that the Irish superstar Conor McGregor will be uprooted from his business, but it does pose serious business implications moving forward.
Since the sales of Conor McGregor’s whiskey have only increased year after year, surely the former two-weight world champion will be eager to stay at the helm of his own business enterprise. Especially considering the success that spirits have had lately worldwide, even celebrities are getting involved in the lucrative venture. The superstar will need to be careful as soon perhaps Becle could be full owners of not only EBS but Proper No.12. Irish Whiskey too. The business world is just as unforgiving as the fight game sometimes.
Do you think Conor McGregor will retain control of his whiskey business in the coming months? Give us your thoughts below in the comment section!