The brothers who founded a new sport and walked away with $1.3bn each

Frank and Lorenzo Fertitta created a new sport, branded 'human cockfighting' by outraged politicians. But from a one-off event 15 years ago, the sport has grown to be the second biggest in the US.

Fifteen years ago, a new championship was established to discover who was the ultimate fighter. Could a karate expert defeat a wrestler? Would the skills of a Brazilian jiu-jitsu exponent overcome a boxer? The one-off event, in Denver Colorado, was a huge hit. It also established that mixed martial arts could have a future as popular sport, says The Daily Telegraph.

Unfortunately, the Ultimate Fighting Championship immediately shot itself in the foot. "There are three ways of winning," proclaimed an over-zealous marketing campaign, "by knockout, submission or death."

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.