UFC Star Conor McGregor Ordered to Disclose His Earnings From $600 Million Sale of Proper No. 12
Conor McGregor has roughly 90 days to disclose how much he made from the sale of his popular brand of Irish whiskey as part of a High Court action by former friend and UFC fighter Artem Lobov.
In an order made by John Glennon, deputy master of the High Court, McGregor must deliver documentation detailing his portion of the reported $600 million that Proximo Spirits paid the Irishman and two other shareholders to acquire Proper No. 12 in 2021.
The order for discovery is part of an action aimed at enforcing what Lobov’s lawyers allege was an agreement between the ex-sparring partners that guaranteed their client would receive 5% of the proceeds from the sale.
Lobov claims he was the co-founder of the concept to develop a whiskey brand with McGregor and was later “muscled out” of the company. According to Lobov, McGregor had offered him $1 million for his involvement, but Lobov refused. He said the 5% agreement was made orally between the two men at a gym in Dublin around September 2017. “Remember 5% is yours, no matter what,” McGregor allegedly told Lobov during the interaction.
The 5% that Lobov claims he was guaranteed would equate to $30 million. McGregor denies any such conversation took place.
McGregor’s lawyers opposed the application, arguing the documents sought were commercially sensitive. Despite that, the deputy master ordered the discovery of documents relating to McGregor’s share in the proceeds, as well as records relating to McGregor’s interest in the whiskey brand.
“I am very happy with the decision and I now look forward to the case going to trial,” Lobov said in a statement.
Reports suggest that Conor McGregor earned upwards of $130 million when he and the other shareholders sold their stakes to the owners of Jose Cuervo tequila.
