On 83 Weeks podcast, Eric Bischoff talked about the inception of UFC and that he could’ve bought this company during its early stages.
UFC was founded in November 1993 and has since come a long way. Back then, it wasn’t a competition to WCW — which was one of the biggest wrestling promotions in the world. Bischoff talked about the difference between today’s UFC and the time when it was still new to the business.
“Nobody looked at it as competition – it was a tough man contest,” Bischoff said. “Not taking anything away from people involved in it, but it was being promoted as a tough man type. It wasn’t being promoted the way it was being promoted today. I don’t think anybody looked at it as a threat or competition. As a fan, I was curious about it but not concerned about it.”
He further revealed that once he was offered to buy UFC but he “didn’t bother” checking the offer.
“If we’d have known then what we know now, I’d own it,” Bischoff said regarding the UFC. “I was offered to buy it at one point for 2 million dollars and I didn’t bother to return the phone call.”
“The Fertitta’s, when they bought it, people didn’t realize how many 10s of millions of dollars the Fertitta’s lost before it turned around,” Bischoff said. “There was probably over a hundred million dollars of red ink that flowed out of UFC before it finally turned the corner. It wouldn’t have turned the corner had it not been for [The Ultimate Fighter] on Spike. That was the golden ticket, the lottery ticket, that turned things around.”