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Throughout the mixed martial arts industry, promotions have had to postpone upcoming events as the coronavirus pandemic stretches to every corner of the globe. Legacy Fighting Alliance are no exception to that rule, and have had to postpone three events since March. For some, that could lead to a serious dearth of incoming revenue. However, LFA CEO Ed Soares tells Sherdog that the promotion has worked to find new ways to keep the organization’s finances on solid ground during a tumultuous period in the business.
“We’re a media company. We’re are in the content business, and we’re here to develop content,” Soares told Sherdog. “What we’ve had to do is think outside the box, and think of some alternative ways that we can still produce content for television and streaming platforms all over the world. And still fulfil everything we need to. If we are still distributing content, then we are still getting our sponsorship money. The only [major] revenue stream that we’ll really lose is ticket sales. But there are also other things we can do to counter that. At the end of the day, you’re going to have to be smart. Sharpen that pencil, [and] figure out alternative ways to get it done.”
In his conversation with Sherdog, Soares spoke on the difficult decision to postpone three events, and if there was ever discussion of producing closed-door events or moving to a venue in a different state. He also talked about the strategy the organization is developing for when they can get back to promoting events.