Anthony Joshua lost almost £3MILLION in sponsorship deals and his endorsements dropped by whopping 35 per cent after first Oleksandr Usyk defeat, as new accounts are revealed
- British fighter sees reduction in endorsement deals following first loss last year
- Anthony Joshua’s 258 company said it was down to his loss of image rights
- Joshua finds his career at a crossroads after consecutive defeats in last year
Anthony Joshua’s umbrella company 258 Management saw a 35 per cent reduction in turnover from February 2021 through to February 2022, new accounts have revealed.
The British heavyweight fighter, whose company’s principal aim purports to be securing endorsements and sponsorship deals, saw a significant reduction in revenue following his first loss to Oleksandr Usyk at the Tottenham Hotspur Stadium last year.
Revealing a costed breakdown of the year-on-year revenue streams, the new accounts reveal a significant drop off in endorsement deals for the fighter which amount to around £3m in losses.
In the year to February 2021, Joshua made £8,453,578 via various endorsement deals, including the likes of Under Armour, Beats and Hugo Boss.
However, in the subsequent financial year, up to February 2022, his endorsements almost fell off a cliff, with the company bringing in just £5,527,952. The drop off amounts to around 35 per cent lost in endorsements.
A breakdown of the numbers reveals the most significant loss in revenue came from the Non-EU area, with Joshua’s 2021 endorsement revenue stream of reducing by almost £2m from £3,576,787 to £1,598,980.
Anthony Joshua has seen a significant reduction in his revenue streams via endorsements after following his loss to Oleksandr Usyk last year
The EU and UK endorsement reductions were less dramatic, but no less startling for a fighter who prior to the Usyk bout held three weights and stood atop of the heavyweight division after getting his career back on track having lost to Andy Ruiz Jr.
Marketing and sponsorship revenues in the UK went from £3,477,958 to £2,914,285, showing their remains more faith in their homegrown fighter than there perhaps is on the international stage at present. Meanwhile, companies in the EU turned their backs with the revenue from deals falling from £1,398,833 to £2,914,285.
Accompanying the numbers, 258 attempt to explain the reasons for what some might say is an alarming loss of funds for a fighter who was once the envy of every British athlete in terms of deals with outside companies all wanting a slice of the pie.
The British fighter has seen his endorsement deals fall by 35 per cent in a shock to the system of many
‘The sponsorships and endorsements division has decreased by 35% from 2021 to 2022. This is as a result of third parties placing less value on the use of the fighter’s image rights,’ a statement in the accounts reads.
‘The company faces a number of risks and uncertainties and the director believes the key business risks are in respect of competition from both within the UK and international markets.
‘In view of this risk and uncertainty, the director is aware that the development of the company may be affected by factors outside its control.’
The loss to Usyk in the UK last year was costly – it remains to be seen how costly this year’s loss was to the Ukrainian
The financial report goes on to state that while they expect the company to remain competitive within the market, they urge caution over significant growth from this year to next.
‘The directors anticipate the business environment will remain competitive. The directors believe that the company is in a good financial position and that the risks that have been identified are being well managed,’ the statement continues.
‘The directors are confident in the company’s ability to maintain and build on this position, albeit with cautious growth expectations.’