The simmering tensions between Japan’s resurgent K-1 and Singapore-based ONE Championship have boiled over, with K-1 leader Carlos Kikuta taking direct aim at ONE CEO Chatri Sityodtong’s management. In a scathing statement, Kikuta raised questions about ONE’s financial practices and its sustainability.
K-1 Slams ONE Championship and Chatri Sityodtong
“Let’s be serious,” Kikuta said in a statement translated from Japanese regarding ONE Championship and Chatri Sityodtong, “ONE has raised more than $500 million in total from GIC, Temasek Holdings, Heliconia Capital, Mission Holdings, Sequoia Capital’s Indian and US funds, and Vulcan Capital, an investment company owned by Microsoft co-founder Paul Allen, among others, and raised another $50 million from the Qatar Investment Authority in October of this year. In other words, it has used up the more than 750 million yen it has raised so far and raised another 60 million yen. So, does ONE have a good manager or not?”
Kikuta’s remarks come as K-1 continues its rebirth under his administration, capitalizing on its storied history in Japan. Meanwhile, ONE Championship has been creating great quality events in Thailand and Tokyo. The two organizations are staring each other down with wins and losses on both sides.
ONE Championship vs. K-1 World GP
Chatri Sityodtong has positioned itself as Asia’s answer to the UFC but has faced scrutiny over its finances. The organization has raised over half a billion dollars in investment capital from high-profile entities, which was what Carlos Kikuta is citing. Various reports suggest that ONE has suffered significant losses. However, these statements have been largely rejected as false by ONE CEO Chatri Sityodtong.
Nevertheless, ONE recently booked the highly anticipated Takeru Segawa vs. Rodtang Jitmuangnon in Tokyo for March, right in K-1’s backyard. This is one of the biggest fights of the generation, the best of kickboxing facing the best of Muay Thai. Additionally, many K-1 fighters have left the organization to compete in ONE Championship.
Carlos Kikuta
Carlos Kikuta took over as K-1 producer in July 2023 and has extensive experience in the combat sports world, including stints with GLORY the UFC, and K-1 in its early 2000s heyday. K-1’s strategy includes a significant international expansion in 2024. The promotion aims to hold nationwide tournaments in countries like Brazil, the Netherlands, the USA, and China, culminating in a year-end championship in Tokyo.
The rivalry between these two organizations may signal a broader shift in the combat sports landscape. For fans and fighters alike, the stakes have never been higher. Both companies are seeking to dominate the striking sports market with Japan on the line.
