The Ultimate Fighting Championship (UFC) and the sport of mixed martial arts as a whole have both spread across the world in a variety of different methods. Because of its spread, mixed martial arts (MMA) has become such a popular sport that training facilities for the sport have begun to appear in countries that normally wouldn’t have access to such facilities.
UFC Gym in Australia is one example of such a facility. Regrettably, it has become mired in legal issues, which has ultimately resulted in a catastrophe for its finances. In light of the fact that it is one of the most successful gym chains in Australia, the master franchise agreement for it was held by three separate businesses.
DTN NEWS DTN NEWS @DTNNEWUpdates
UFC Gym Australia goes under View image on Twitter
Ultimate Franchising Group Pty Ltd, UFC Gym Prospect Pty Ltd, and Ultimate Franchising Group Properties Pty Ltd were the entities in question. Following a verdict that found them guilty of engaging in deceptive business practices, the courts ordered Ultimate Franchising Group Pty Ltd and Ultimate Franchising Group Properties Pty Ltd to pay more than $5 million in restitution to three of their franchisees.
This occurred toward the end of May and was the cause of the two companies entering into voluntary administration. This was accomplished by the directors of both companies appointing licensed insolvency practitioners to serve as the new administrators of management. These administrators are from an insolvency firm called Wexted Advisors and their names are Rajiv Goyal and Christopher Johnson.
Now, in late June, it has come to light that the two individuals in question submitted a report to the Australian Securities and Investments Commission (a copy of which was obtained by news.com.au), in which they disclosed that Ultimate Franchising Group Pty Ltd owed $15,645,000 to unsecured creditors. In a nutshell, the debt of the Australian fitness center has increased to a total of $15,645,000.
Even while the gym is working hard to improve its financial status, it appears that the company, which had more than ten locations in Australia at one point, is headed for troubled times.,
When will the UFC return to Australia?
The last time the organization hosted an event on Australian soil, it was UFC 284, which took place in Perth. Alexander Volkanovski had the opportunity to unseat the apparently unbeatable Islam Makhachev in front of the fans in Australia and consolidate his position as the best fighter at his weight class by becoming the promotion’s newest two-division champion.
MMA Mania MMA Mania
@mmamania
According to ESPN, the fight between Kai Kara-France and Manel Kape has been added to UFC 293 in Sydney, Australia.
You may view the image on Twitter at 124 9
Despite the fact that many people believed that ‘The Great’ had done enough to get the nod from the judges in his favor, things did not go his way and he did not win the competition. The event in question took place in February of this year. When exactly is the next time that the promotion is going to be held in Australia? The news, which will come as a relief to supporters in Australia, is that it will be sooner rather than later.
The event known as UFC 293, which is slated to take place on September 10, will take place in Sydney, which is the most populous city in the country. Fans will wait with bated breath in spite of the fact that there is very little news regarding the headliner for the event.
