Conor McGregor Forged Stout firms record combined losses of €7.7m for 2024
Gordon Deegan
Two companies behind Conor McGregor’s Forged Stout brand recorded combined losses of €7.7 million last year, new accounts show.
New abridged accounts filed by McGregor’s Forged Stout Distribution Ltd show that it recorded post-tax losses of €4.98 million last year.
Separate accounts filed by McGregor’s Forged Stout Production Ltd show that it sustained post-tax losses of €2.72 million in 2024.
The losses at the two companies were down 7 per cent on the combined losses of €8.25 million for 2023.
Accumulated losses at the two firms at the end of 2024 totalled €15.95 million, as accumulated losses at Forged Stout Distribution totalled €10.17 million while accumulated losses at Forged Stout Production amounted to €5.78 million.
Domestic sales dropped for the stout brand after McGregor lost a civil rape case in November 2024, when a jury found he had raped mother-of-one Nikita Hand in a Dublin hotel in 2018.
In July, the former MMA star lost an appeal in the case. He has denied raping Ms Hand.
However, the impact on the 12-month performance of the stout brand would have been minimal as the jury verdict came through in late November last year.
The business has bounced back in the current year with a focus on international distribution after it was recently reported that Forged Stout has secured a distribution agreement in the Nordics region, which includes countries like Finland, Sweden and Norway, as well as for 15 other new markets.
A number of companies connected to McGregor have filed accounts in recent days, and another is Jemi Ventures Ltd, which operates McGregor’s Black Forge Inn in Crumlin in Dublin 12.
New accounts show that Jemi Ventures Ltd last year recorded post-tax losses of €244,588, an increase on the post-tax losses of €216,095 in 2023.
However, the company recorded a loss after taking into account non-cash depreciation costs of €366,187, showing that the firm recorded an operating profit before the depreciation costs are taken into account.
Numbers employed by the company last year increased from 48 to 54; the abridged accounts don’t reveal staff costs or revenues for the year.
A note attached to the accounts for the pub and restaurant business says that "the business focuses on delivering high quality dining experiences, including the preparation and service of meals".
Another McGregor firm, McGregor Sports and Entertainment Ltd provides the financial firepower for connected McGregor firms and it increased its activities in 2024.
New accounts show that at the end of last year, the amount owed to the firm by Forged Stout Distribution was €8.79 million compared to €4.45 million at the start of the year.
The amount owed to McGregor Sports and Entertainment by McGregor’s Forged Stout Production Ltd at the end of last year was €8.53 million compared to €6.72 million at the end of 2023.
Numbers employed by McGregor Sports and Entertainment Ltd last year declined from 30 to 28, which included 24 engaged in sales and administration.
The company recorded a post-tax loss of €1.45 million in 2024, which included a €446,968 adjustment to the tax charge for previous periods.
A note attached to the accounts states that the main activity of the company “is the management, operational, and administrative services to a Sports Person and the family”.
The note states that these services include strategic oversight of personnel and the administration of household operations.
It also states that the company oversees scheduling, travel arrangements, and financial coordination related to the family's professional and personal engagements.
In addition, the company provides support in areas such as general operational planning to ensure efficient and effective management of the family's public and private activities.
The accounts further reveal that one of McGregor’s property firms, Emrajare Ltd, owed McGregor Sports and Entertainment €18.55 million at the end of last year.
In May 2024, An Bord Pleanála delivered a blow to plans by Emrajare to construct a multi-million euro eight-storey 113-unit apartment block in Mr McGregor's home area of Drimnagh, Dublin 12.
Separate accounts for Emrajare Ltd show that it recorded disposals of €13.97 million in its investment properties in 2024. The value of its remaining investment properties at year end totalled €8.84 million.
At the end of the year, the company had accumulated losses of €5.87 million after recording a post-tax loss of €208,995 in 2024.
The losses incurred by McGregor’s various firms are unlikely to trouble the Dubliner as he made a fortune from his Proper No Twelve whiskey, selling most of his stake in 2021 to Proximo Sports for $600 million (€518 million).
Mr McGregor reportedly made $130 million from the deal.
McGregor has not entered the Octagon since 2021, when he broke his leg in a defeat to Dustin Poirier.
Last month, it emerged that McGregor is currently serving an 18-month competitive MMA ban for violating the UFC's anti-doping policy.
McGregor missed three attempted biological sample collections within a 12-month period in 2024.
The ban began on September 20th 2024 - the date of his third whereabouts failure - and will conclude on March 20th 2026, four months before he turns 39.
