If you follow combat sports, you already know that PFL — the Professional Fighters League — has spent years positioning itself as the only real alternative to the UFC. But in the last six months alone, PFL has gone through more ownership changes, power shifts, and blockbuster deals than most sports organizations see in a decade. The founder walked out. Two new investment firms took over. Saudi Arabia’s sovereign wealth fund poured in over $100 million. And then, just two days ago on July 30, 2026, PFL announced a landmark merger with Jake Paul’s Most Valuable Promotions (MVP) — creating what could become the biggest challenger to UFC dominance in the history of the sport.
So who actually owns PFL right now? The answer changes almost every time you blink — and right now, it is more interesting than it has ever been.
What Is PFL?
The Professional Fighters League (PFL) is an American mixed martial arts (MMA) league founded by venture capitalist Donn Davis in 2017 and launched in 2018, following the acquisition and restructuring of the former World Series of Fighting (WSOF) promotion.
What makes PFL genuinely different from every other MMA organization in the world is its format. Unlike the UFC, which books fighters on individual cards whenever it wants, PFL runs a full sports-season model. Fighters compete in a regular season, then playoffs, then a championship fight — just like the NFL or NBA. Champions earn $1 million prizes. It is structured, predictable, and built around the fighter as an athlete rather than just a pay-per-view commodity.
PFL is the only MMA organization with a sports-season format, with fighters competing in regular-season bouts, playoffs, and championship fights where winners earn not only titles but also substantial cash prizes.
Who Owns PFL Right Now in 2026?
This is where the story gets genuinely exciting — because as of July 30, 2026, the answer is dramatically different from what it was even six months ago.
PFL is currently a privately held company owned by a combination of institutional investors, with Knighthead Capital Management and 885 Capital serving as the lead owners since January 2026. Saudi Arabia’s sovereign wealth fund — through SRJ Sports Investments — also holds a meaningful minority stake.
But the biggest news of all: Most Valuable Promotions (MVP) and the Professional Fighters League (PFL) announced a landmark merger on July 30, 2026, creating a new global home of combat sports under the MVP banner. The new company will be led by Co-Founders and Board Members Jake Paul and Nakisa Bidarian, with John Martin serving as CEO and Board Member. Existing PFL shareholders 885 Capital and Knighthead Capital Management are becoming founding investors of the new combined entity, committing new capital.
PFL Ownership and Key Stakeholders Table
| Owner / Stakeholder | Type | Role / Stake | Key Detail |
|---|---|---|---|
| Knighthead Capital Management | Private Equity Firm | Lead Owner & Founding Investor | Took lead ownership in January 2026; founding investor in new MVP-PFL entity |
| 885 Capital | Growth Investment Firm | Lead Owner & Founding Investor | Co-took lead with Knighthead in January 2026; founding investor in merger |
| SRJ Sports Investments (Saudi PIF) | Sovereign Wealth Fund | Minority Shareholder | Invested $100M+ in 2023; first investment by PIF’s sports fund |
| Jake Paul | Co-Founder of MVP | Co-Founder & Board Member (Post-merger) | His MVP company merged with PFL on July 30, 2026 |
| Nakisa Bidarian | Co-Founder of MVP | Co-Founder & Board Member (Post-merger) | Oversees boxing and blockbuster live events division |
| John Martin | CEO | CEO & Board Member | Leads day-to-day operations of combined MVP-PFL entity |
| Donn Davis | Original Founder | Departed January 2026 | Founded PFL in 2017; stepped down as chairman when new owners took over |
The Origin Story: From WSOF to PFL
PFL was officially launched in 2018, following its acquisition and rebranding of the World Series of Fighting (WSOF). Since then, it has rapidly expanded, securing broadcasting deals with major networks such as ESPN and DAZN, and forming partnerships with influential investors.
Donn Davis, the man who built all of this from scratch, was not a fighter or a promoter by background. He was a venture capitalist — a founding partner of the private equity firm Revolution — who had also worked at Tribune, AOL, and even the Chicago Cubs. He looked at the MMA market, saw a sport dominated by one organization with no real competition, and bet that a proper league format could change everything.
From 2017 to 2025, Davis grew PFL from nothing into the clear number two MMA organization worldwide, as he himself described it on LinkedIn when he stepped down. He signed broadcast deals, launched international leagues, acquired Bellator MMA in 2023, and brought in Saudi money. Then, in January 2026, he handed the keys to the new owners and walked away.
The January 2026 Ownership Overhaul: Knighthead and 885 Capital Take Over
The biggest ownership shift in PFL’s history — before the MVP merger — happened in January 2026.
Knighthead Capital Management and 885 Capital expanded their previous ownership stakes and established “lead ownership” of PFL. At the same time, PFL founder Donn Davis stepped down as chairman and departed the organization entirely.
Ara Cohen, co-founder of Knighthead Capital, said: “PFL is entering an exciting stage of its evolution, and we see significant opportunity ahead as we position the organization for its long-term success. We have strong conviction in the league’s strategy, global reach, and leadership, and we have full confidence in John Martin to guide PFL into its next chapter.”
Michael Schmidt, CIO at 885 Capital, added: “John Martin and the PFL have a clear vision of how modern combat sports should be structured, marketed, and scaled.”
Knighthead Capital is a diversified institutional investment firm with deep expertise in operational turnarounds and scaling global platforms across sports, media, and entertainment. 885 Capital is a growth-oriented investment firm with a track record of backing category-defining sports and technology companies. Together, they represent exactly the kind of serious, patient institutional capital that a growing sports league needs.
Saudi Arabia’s $100 Million Bet on PFL
Before Knighthead and 885 took over as lead owners, the biggest outside investment in PFL’s history came from a very different direction — the Middle East.
In 2023, PFL sold a minority ownership stake in the firm to SRJ Sports Investments, the sports-focused fund of Saudi Arabia’s Public Investment Fund (PIF). PFL was the first investment by SRJ, and it invested more than $100 million into PFL. Later that year, PFL acquired competitor Bellator.
The Saudi PIF is the same sovereign wealth fund that owns Newcastle United in the Premier League, backs LIV Golf, and has been aggressively expanding into global sports over the last several years. Its bet on PFL was a signal that the organization had real international credibility — and its investment helped fund the Bellator acquisition that dramatically expanded PFL’s fighter roster and global footprint.
The Bellator Acquisition: PFL Gets Bigger Overnight
In November 2023, PFL made the most significant strategic move in its history — and it immediately changed the landscape of combat sports worldwide.
Professional Fighters League’s most recent deal was a Buyout/LBO with Bellator MMA, completed on November 20, 2023.
Bellator was the UFC’s primary competitor for years, promoted by Scott Coker and distributed through Showtime and Paramount+. By absorbing Bellator, PFL instantly gained access to a massive roster of elite fighters, established brand recognition in Europe and Asia, and a library of fight content. The combined organization genuinely became the number two MMA promotion in the world — not just by self-declaration, but by any objective measure of roster quality and global reach.
The July 2026 Bombshell: PFL Merges With Jake Paul’s MVP
The most dramatic development in PFL’s entire history happened just two days ago — and it is genuinely one of the biggest stories in combat sports in years.
Most Valuable Promotions (MVP) and the Professional Fighters League (PFL) announced a landmark merger on July 30, 2026, creating a new global home for combat sports under the MVP banner. The combined company brings nearly 400 athletes under one roof, with distribution relationships including Netflix, ESPN, Sky Sports, and PFL’s existing network of 34 partners across Europe, the Middle East, Africa, Asia, and Latin America.
Jake Paul — the YouTube star turned legitimate professional boxer — co-founded Most Valuable Promotions (MVP) with Nakisa Bidarian and built it into one of the most culturally relevant combat sports brands in the world. MVP produced some of the biggest boxing events of the last few years and recently launched its own MMA division, MVP MMA.
Jake Paul, Co-Founder and Board Member of the new company, said: “We started MVP to disrupt a broken model. We wanted to give fighters fair pay and a platform that respects them. This merger accelerates our MMA ambitions while strengthening our ability to continue investing in boxing.”
John Martin, the new CEO and Board Member, said: “Over the past seven years, PFL has built world-class MMA operations, international reach, and a deep roster of talent. This merger brings scale — in operations, in distribution and media rights, in sponsorship, in fighter development, and in fan engagement. We’re not just combining companies, we’re bringing an entire combat sports community together.”
The new entity launches with what both companies describe as “the strongest balance sheet in its history” — thanks to fresh capital commitments from founding investors 885 Capital and Knighthead Capital Management.
Who Is John Martin? The Man Now Running It All
With Donn Davis gone and Jake Paul and Nakisa Bidarian operating as board-level co-founders rather than day-to-day operators, John Martin is the man actually running the combined MVP-PFL organization.
PFL chief executive John Martin has called the latest capital raise “a pivotal moment” for the organization. He identified 2026 as a “defining year” for PFL, with looming talks for its next US broadcast deal and plans to evolve its product.
Martin came to PFL as a world-class media executive with deep MMA knowledge — exactly the profile the new owners wanted to lead the organization into its next phase of growth.
Frequently Asked Questions (FAQs)
Q1. Who owns PFL in 2026?
PFL is led by Knighthead Capital Management and 885 Capital as lead owners, with Saudi Arabia’s PIF holding a minority stake through SRJ Sports Investments.
Q2. Who founded PFL and when?
PFL was founded by venture capitalist Donn Davis in 2017 and officially launched in 2018 after acquiring the World Series of Fighting (WSOF).
Q3. Why did Donn Davis leave PFL?
Donn Davis stepped down as chairman in January 2026 when Knighthead Capital and 885 Capital took over as lead owners and completed a new strategic capital raise.
Q4. Did PFL merge with Jake Paul’s company?
Yes. On July 30, 2026, PFL merged with Jake Paul’s Most Valuable Promotions (MVP), creating a new global combat sports entity under the MVP banner.
Q5. Who is the CEO of PFL in 2026?
John Martin serves as CEO and Board Member of the new combined MVP-PFL organization following the July 30, 2026 merger.
Q6. Did Saudi Arabia invest in PFL? Yes. SRJ Sports Investments, a fund of Saudi Arabia’s Public Investment Fund (PIF), invested over $100 million in PFL in 2023 — the fund’s very first sports investment.
Q7. When did PFL acquire Bellator?
PFL acquired Bellator MMA on November 20, 2023, making it the undisputed number two MMA promotion in the world by roster size and global reach.
Q8. Is PFL publicly traded?
No. PFL is a privately held company, backed by private equity and institutional investors, with no stock listed on any public exchange.
PFL — the Professional Fighters League — is a privately held MMA organization that has undergone dramatic ownership changes in 2026. As of today, the controlling owners are Knighthead Capital Management and 885 Capital, who took over as lead investors in January 2026 when founder Donn Davis stepped down. Saudi Arabia’s sovereign wealth fund (PIF), through SRJ Sports Investments, holds a meaningful minority stake after investing over $100 million in 2023.
And as of July 30, 2026 — just two days ago — PFL has merged with Jake Paul’s Most Valuable Promotions (MVP) to create a new global combat sports powerhouse under the MVP banner. Jake Paul and Nakisa Bidarian serve as co-founders and board members. John Martin leads the combined company as CEO. 885 Capital and Knighthead Capital are founding investors of the new entity.
It is, without question, the most ambitious attempt yet to build a genuine rival to UFC dominance — and the story is only just beginning.
