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LEVON BISS FOR FORBESEddie Hearn, the chairman of his family’s event promotion company, Matchroom Sport, has pushed the firm’s boundaries toestimates Matchroom Sport posted revenue of $365 million and a net profit of $60 million in fiscal year 2023 .
Much of that is thanks to the rejuvenation of its boxing division, which he has steered since 2012 from small-time enterprise to global brand. Boxing now accounts for over half of Matchroom Sport’s estimated annual sales and nearly $20 million of its cash flow., a nascent yet profitable player in America and an emerging presence in newer markets such as the Middle East.
It’s the kind of success his father, Barry, never envisioned when the elder Hearn founded the company in 1982. Starting with just £100 and a focus on snooker, and later darts and other small sports, Barry assembled a respectable promotion business that was pulling in roughly $1 million in profit on $10 million of revenue when Eddie joined Matchroom in 2000.
Twelve years later, when Eddie first approached his dad with a radical plan to blow out the firm’s boxing operations, the entire company was earning less than it does solely in the ring today. “I always had dreams,” Barry, 75, says. “But Eddie’s shown me that there is another level.”“Over the last decade, boxing has found itself as the cultural undercard to mixed martial arts in the UFC and, in a way, Matchroom hasreporter Justin Birnbaum.
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