TKO Group Holdings, the parent company of the Ultimate Fighting Championship, disclosed Monday that its high-profile June event at the White House resulted in a roughly $30 million loss. The revelation came during the company's second-quarter earnings call.
Andrew Schleimer, TKO's chief financial officer, told investors that "UFC Freedom 250" incurred "significantly higher-than-normal costs," which were only partially offset by sold-out global partnerships inventory. He noted the financial profile of the event was anticipated before it took place. The event, held on President Trump's birthday, June 14, featured seven fights on the South Lawn and was attended by Trump and UFC CEO Dana White, a longtime ally who introduced Trump at the 2024 Republican National Convention.
The company spent approximately $60 million on production costs for the event, which was not open to the general public. Instead, about 4,000 attendees included Trump administration officials, members of Congress, business executives, and military servicemembers. As a result, there were no public ticket sales, a factor that TKO cited in its quarterly earnings report for a decline in live events and hospitality revenue.
In the second quarter of 2025, TKO's revenue from live events and hospitality dropped to $47.8 million from $58.5 million in the same period last year. The company attributed the decrease largely to the absence of ticket sales for UFC Freedom 250 and one fewer numbered event, partially offset by higher financial incentive package revenue.
The event also drove up operating costs, particularly athlete and production expenses. TKO's adjusted earnings before interest, taxes, depreciation, and amortization margin fell from 59% in the second quarter of 2025 to 52% in the most recent quarter.
Despite the financial hit, TKO executives defended the event as a strategic success. Mark Shapiro, TKO's president and chief operating officer, said the Freedom 250 generated more than $1 billion in "earned media value," claiming it was the kind of exposure only a handful of global events can command. He also noted that the event "delivered results as designed," adding 25 new marketing partners, many of whom signed multi-year or multi-event deals.
White, who had called the event "an amazing experience," said the company would not stage a repeat due to its cost. The loss comes as TKO's overall net income for the second quarter rose to $303.9 million, an increase of $30.8 million from the prior year.
The financial disclosure adds to the ongoing scrutiny of the relationship between the Trump administration and major sports organizations. While the event was seen as a spectacle, its bottom-line impact raises questions about the sustainability of such politically charged productions. For more on the political landscape, see voter preferences ahead of the midterms.
