Tye Ruotolo has officially booked his mixed martial arts debut against rising prospect Adrian Lee at ONE FN 35, set to take place at the iconic Lumpinee Stadium in Bangkok, Thailand on September 5.
ONE Championship officials confirmed the matchup on Wednesday, marking a pivotal moment for both the organization and the sport of MMA. The Ruotolo brothers have been making waves in the grappling circuit for years with both siblings initially signing with ONE Championship to compete in both grappling and MMA contests. While his brother Kade has already established himself in the cage with a perfect 3-0 record in MMA, Tye is now ready to follow suit and showcase his complete skill set.
The transition from grappling to MMA is never guaranteed but Ruotolo brings an impressive pedigree to the cage. His grappling resume reads like a who’s who of the sport having defeated numerous notable names including Garry Tonon, Marius Marten and other elite competitors.
Standing opposite Ruotolo will be Adrian Lee, a 19-year-old phenom who carries the weight of a legendary MMA family name. The youngest member of the Lee dynasty, Adrian follows in the footsteps of his famous siblings Christian Lee and Angela Lee who both held titles while competing with ONE Championship.
“Financially, it takes a lot to build a global sports property.”
The high-profile bout comes at a crucial time for ONE Championship which has been grappling with mounting financial pressures behind the scenes. Recent reports have revealed concerning details about the organization’s financial health with the company posting a staggering $90 million loss in 2023 despite generating $68 million in revenue.
According to financial filings ONE Championship’s biggest expense in 2023 was marketing at $59.6 million followed by employee costs at $21.5 million. The company’s cash position stood at just $21.7 million at the end of 2023 raising questions about its ability to sustain operations without additional funding.
The financial strain became more apparent in early 2025 when ONE Championship announced a strategic shift of its global production operations from Singapore to Bangkok citing “increased efficiency” and cost considerations. However within 24 hours of this announcement the company quietly requested a 60-day extension to file its 2024 financials with CFO Cai Yi Jin citing “resource constraints” with their auditors.
The financial pressures have translated into tangible impact on ONE Championship’s workforce. Reports indicate that the company has implemented layoffs across multiple departments including marketing editorial and PR teams in Singapore the US the Philippines and the UK. These cuts represent the latest in a series of workforce reductions that have been ongoing since the COVID-19 pandemic disrupted the live events business in 2020.
Despite securing high-profile investors like Qatar Investment Authority and Guggenheim Investments in a $150 million funding round in December 2021 that injection of capital has proven insufficient to achieve profitability. The company’s most recent funding activity a $50.5 million round in October 2024 involved ordinary shares rather than preferred shares suggesting it may not represent entirely new investment.
ONE Championship CEO Chatri Sityodtong has been vocal in defending the organization against what he describes as “increasingly sophisticated online and PR attacks.” In a recent social media post, Sityodtong attributed criticism to “malicious parties” attempting to spread “false narratives” about the company.
“Financially, it takes a lot to build a global sports property,” Sityodtong stated, acknowledging that the company has been “running extremely high costs with very limited revenue” while investing in global expansion. He claimed that revenues have grown consistently since inception and that the path to profitability is now “very clear” though he admitted to possibly misjudging the exact timing of when ONE would achieve profitability.
Despite the financial challenges ONE Championship continues to move forward with high-profile events and matchups. The organization has secured a five-year deal with Amazon Prime Video running through mid-2027 which provides a crucial revenue stream through broadcast partnerships that generated $56.2 million in 2023.
The Ruotolo vs. Lee matchup represents exactly the type of compelling content that ONE Championship needs to maintain its competitive position in the global MMA landscape. Both athletes bring significant fan interest and social media following which could translate into valuable viewership and engagement metrics for the organization’s broadcast partners.
For ONE Championship this contest represents more than just another exciting pairing. It’s a test of the organization’s ability to continue delivering compelling content while navigating significant financial challenges.
