MMA Star Conor McGregor Ordered to Disclose Profits From Massive Proper No. Twelve Deal
Conor McGregor was ordered by the Irish Court to disclose the exact profits he received from the sale of his Proper No. Twelve Irish Whiskey brand. (Photo by Vianney Le Caer/Invision/AP)
On Friday, The Irish Independent reported that Conor McGregor has been ordered by the Irish High Court to publicly disclose how much he received from the massive sale of his Proper No. Twelve Whiskey brand.
John Glennon, the deputy master of the High Court, made the order as part of an ongoing suit between the Irish fighter and his former friend and fellow fighter, Artem Lobov.
In 2021, McGregor allegedly earned the equivalent of $130 million when he and his two other shareholders sold their stakes in Proper No. Twelve Whiskey to Proximo Spirits for a whopping $600 million. Though McGregor sold his shares, he still stayed on as the frontman of the brand.
Yet, trouble was on the horizon for the Irish Whiskey Brand. In August 2022, Lobov alleged that Proper No. Twelve was really his idea.
During an explosive interview about a book he was writing, Lobov claimed he came up with the plan for the Irish Whiskey brand.
“The selling point of my book will be the Proper 12 Whiskey story. A few people know, but this was actually my idea. I was the person who came up with the idea to do a whiskey for Conor,” Lobov said, according to talkSPORT.
According to the Irish Independent, the lawsuit attempts to “enforce an alleged oral agreement made in a gym in 2016 that he would receive 5pc of the proceeds.”
Though McGregor reportedly offered to pay Lobov $1 million for his role in the brand, Lobov refused to take the money.
As part of discovery proceedings for the lawsuit which are set to take place within the next twelve weeks, Glennon ordered the documents relating to McGregor’s share in the profits of the sale to be released, and any records involving McGregor’s financial stake in the whiskey brand to be released as well.
Additional documents are requested for any holdings The Notorious may had with Paradigm Sports Management.
The deputy master did not order documents of business interactions between McGregor’s manager, Audie Attar and the American entrepreneur, Ken Austin — the two other shareholders of Proper No. Twelve.
Lobov appeared the be pleased with the proceedings:
“I am very happy with the decision and I now look forward to the case going to trial,” Lobov said, according to the Irish Independent.
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