It’s obvious to say that the UFC’s business and revenue model thrives on rivalry. The rivalry between Conor McGregor and Khabib Nurmagomedov produced one of the most hyped UFC fights in history. UFC 229 in 2018 is MMA’s highest-grossing event ever thanks to massive pay-per-view sales and gate revenue. No second fight took place, as McGregor never secured a rematch amid ongoing tensions and Khabib’s retirement, but the first clash generated unprecedented financial benchmarks for the promotion.
UFC 229: The record-breaking cash cow
UFC 229 took place on October 6, 2018 at T-Mobile Arena in Las Vegas, where Khabib Nurmagomedov dominated McGregor with takedowns and ground control before securing a fourth-round submission via neck crank at 3:03.
The betting numbers
Betting started with Nurmagomedov as a moderate favorite around -155 to -180, while McGregor came in as the +125 to +145 underdog after a long break.
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The Gate, PPV and Streaming Numbers
The record-breaking event drew 20,034 attendees for an entry fee of $17.18 million – the second-highest in UFC history and the largest ever in Las Vegas at the time. PPV buys reached an estimated 2.4 million, including nearly 500,000 via UFC’s streaming service, far surpassing previous MMA highs such as UFC 202’s 1.65 million. This success stemmed from the combatants’ polarizing trash-talk feud, increasing casual viewership and economic impact totaling $86.4 million for the area.
Megastars of the time, such as McGregor and Ronda Rousey on the women’s side, were voted top female athletes in a ESPN Fan Poll – build the hype train. Some fighters just pull well despite their performance.
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The imagined rematch: untapped UFC revenue
No official second fight materialized, with discussions flaring up after the UFC 229 post-fight brawl and Khabib’s 2020 retirement at 29-0. Dana White and McGregor’s pre-UFC 229 hype predicted even bigger numbers for a sequel – possibly 3 million PPV buys – capitalizing on unresolved animosity and McGregor’s star power.
The odds would likely mirror the first fight with an increase in Khabib’s favor given his undefeated streak, including the UFC 229 performance. Though McGregor’s mass market appeal would keep the lines competitive
A rematch could have surpassed UFC 229’s benchmarks given McGregor’s history of solo 1-2 million buys and the rivalry’s global buzz on social media and betting platforms, not to mention wildly successful Fight pass. Instead, it left billions in potential UFC revenue on the table, underscoring how personal interests drive the sport’s business model. Live gates at T-Mobile Arena might have cost more than $20 million if demand was higher.
UFC 229 Post Fight Brawl: The catalyst that almost led to the rematch
The UFC 229 post-fight brawl led to athletic commission penalties, fines and suspensions for the principals and several team members, plus short-term monetary holds and increased regulatory scrutiny at future events in Nevada. Law enforcement made no arrests after Conor McGregor declined to press charges, and the fight did not result in any criminal charges, but did lead to formal discipline from the Nevada State Athletic Commission.
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Immediate actions
The NSAC initially withheld Khabib Nurmagomedov’s $2 million fight purse while it reviewed the video and prepared complaints arising from him jumping out of the cage toward Dillon Danis and the ensuing fight; McGregor’s wallet was released the same evening, but he was still under investigation
Las Vegas police stated that no one involved wanted to press charges, and three men associated with Nurmagomedov who were briefly detained were not charged after McGregor declined to pursue the case.
NSAC Fines
Khabib’s punishment: The NSAC suspended Nurmagomedov for nine months and fined him $500,000 for his role in the brawl, with additional conditions attached to resolution and possible public service notices.
McGregor’s punishment: The NSAC suspended McGregor for six months and fined him $50,000 for his part in the in-cage altercation during the post-fight chaos.
Sanctions for teams
Employees Investigated: The committee indicated it would file complaints against other individuals involved besides the two fighters, reflecting a broader disciplinary scope for cornermen and team members who entered the fray.
Immigration/Visa Warnings: Legal analysts noted that non-US fighters risk immigration consequences due to criminal findings; Although nothing came of this, it remained a consideration noted in the aftermath
UFC Business and Promotional Impact
The UFC kept Nurmagomedov as lightweight champion but acknowledged that a lengthy suspension could have forced contingency plans, including possible stripping if timelines dragged on.
The incident sparked discussion about the UFC’s conduct policy and how previous leniency regarding incidents outside the cage may have fueled the escalation, putting pressure on leadership to strengthen boundaries at future events.
Was a McGregor-Khabib rematch considered?
Both sides publicly talked about a possible rematch, but there was none never proceeded to a signed fight. Khabib consistently downplayed or dismissed the idea unless McGregor achieved something ‘spectacular’ in the cage, with rematch talk mostly about drama and money, while McGregor repeatedly campaigned for it in interviews.
Khabib’s position
Early in 2020, Khabib said a rematch was just “drama and money”, suggesting there was little sporting interest in reversing the match. The resit therefore did not take place. In 2019-20, he and his camp suggested that McGregor would first have to score notable wins, indicating “not now” instead of outright never during his active title reign.
Ali Abdelaziz stated that the fight was not expected to take place in the Octagon, insisting that only something extraordinary from McGregor would change Khabib’s opinion.
McGregor’s position
McGregor repeatedly called for a second fight, claiming things would go differently, including during the UFC 257 media cycle in January 2021. Reports and chatter in the ensuing years suggested McGregor’s chances were not helped by public feuds with UFC leadership, which insiders claimed had damaged momentum for a rematch.
In short
It was considered, but never really came close. The rematch was discussed in the media and by stakeholders, but Khabib’s lack of interest, followed by his retirement, meant that no concrete negotiations led to a deal.
McGregor’s push and star power weren’t enough to meet the performance-based conditions. Khabib’s squad was floating before Khabib left the league.
Main image credit: IMAGE / Depositphotos
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