Hey Not The Face! Podcast

Hosted by John S. Nash & Stephie Haynes

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260

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Jun 2026

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A newsletter and podcast covering the business of face-punching! heynottheface.substack.com

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June 17, 202641 min

Unpacking the massive revenue and corruption of UFC Freedom 250 | Ep. 259

This is a free preview of a paid episode. To hear more, visit heynottheface.substack.com SUPPORT EXPANDING THE ALI ACTIn today’s episode, we’re looking back at the White House card now that it’s happened. We discuss the sponsors, the political motivations, the questionable actions of in-fight officiating, and the hiring of the ABC to oversee the event. We also analyze the latest filings in the antitrust cases, which are very spicy, indeed. There’s a lot more, so make sure to follow along with our outline as you listen:*We urge you to pick up a paid subscription, as it helps us keep the show going* Episode 259 Outline* Are there any new filings or updates to the UFC antitrust cases?* What did you think of the White House card as a whole?* What did you think of the ABC being hired to regulate the event?* What did you think of the sponsors?* What did you think of the crypto bonuses?* What did you think of boxers being there but only 1 UFC superstar retiree in GSP, and that was only because he was cornering Aiemann Zahabi?* UFC commentary referred to Pereira as the biggest mixed martial arts star in the world about 15 minutes after a weird taped segment with Mcgregor and Holloway. Their hard launch of their next massive star failed in real time, and Ilia Topuria, as well. Can Justin Gaethje fill the shoes of either man?* White said the event merchandise sales doubled the next best event. He also said that it was a monstrous night. Do you think they lost a single nickel on that event?* White said this event had no political agenda and was simply to celebrate the 250th anniversary of America and further said the president trusted him to deliver a one-of-a-kind event. He said that he discussed the event on platforms of many different political leanings. Do you believe him?* How do you think the event was viewed by the public?* Do you have any thoughts on that Daniel Cormier post with the Eric Trump screengrab?* What did you think of all the UFC brass being there front and center, as well as old brass like Frank Fertitta?* Lots of politicians, including Corey Booker and Gavin Newsom were tweeting about the corruption of the event. Do you think there’s enough momentum to stop the Revival Act from passing?*Many new filings from the UFC antitrust cases*

June 12, 202629 min

UFC Corruption 250 | Ep. 258

This is a free preview of a paid episode. To hear more, visit heynottheface.substack.com SUPPORT EXPANDING THE ALI ACTIn today’s episode, we’re looking at the latest details of the lawsuit filed against the Trump administration that allege a “volcano of corruption” among other complaints. We discuss the new merchandise UFC will be selling online, as well as the on-site shops, and the way the sponsor packages may have been designed when the negotiations were underway before the Paramount broadcast rights deal was even signed. There’s a lot more, so make sure to follow along with our outline as you listen:*We urge you to pick up a paid subscription, as it helps us keep the show going* Episode 258 Outline* Are there any new filings or updates to the UFC antitrust cases?* In our last show, we discussed the lawsuit filed against the Trump Administration. Since then, there’s been a flurry of activity in those cases. Explain what’s been happening over the last couple days.* In a reply brief, Public Integrity Project attorneys say the UFC White House event is a “volcano of corruption” that will “mark an inflection point in American history.” POTUS’s “allies at the UFC will profit from the first private, for-profit sporting event ever held on WH grounds.” Would you agree with that sentiment?* They also stated the government “concealed the true nature of the event for months”. Did they?* Zach Arnold noted an item from the DOJ response regarding UFC White House card. There is a contract between UFC & the Feds to put on this event. Does that surprise you at all?* Can you lay out the deal that the govt. will have with the UFC that was recently announced by Marco Rubio.* The UFC dropped its UFC Freedom 250 merchandise shop on their website. Now that you’ve seen it, does their claim that they will lose money on this event hold any water when you tally up all the other revenue streams for this event?* The Washington Post is reporting that the White House will be closed to reporters during the UFC event - unless the UFC lets them in. The White House is ceding control of who gets into the fight event on the South Lawn, in a break with tradition. Is this another critical detail in the UFC’s growing political power?* In the grand scheme of things, do you think the White House card will have any significant impact on sports as a whole, outside the MMA landscape?* Dana White was named to TIME Magazine’s inaugural Top 100 Sports list that recognizes 100 of the most influential sports figures reshaping the sports landscape. Do you think he has a claim to be on that list?*COMPLAINT FOR DECLARATORY AND INJUNCTIVE RELIEF*

June 9, 202638 min

Is there a case to stop the UFC Freedom 250 card? | Ep. 257

This is a free preview of a paid episode. To hear more, visit heynottheface.substack.com SUPPORT EXPANDING THE ALI ACTWe’re discussing the lawsuit filed against the Trump administration that looks to stop the UFC White House event from moving forward. We analyze the complaints and the odds that the Plaintiffs can prove and win their case. We also break down why the A-List celebrities that were invited by Dana White have d…

June 3, 202632 min

Could the White House card backfire on the UFC? | Ep. 255

This is a free preview of a paid episode. To hear more, visit heynottheface.substack.com SUPPORT EXPANDING THE ALI ACTIn today’s episode, we’re looking at how the White House card could end up backfiring for the UFC. We discuss Donald Trump’s investment in TKO, as well as the military troops the Pentagon is seeking to fill seats at the White House card, and if the UFC could theoretically afford to pay for their travel expenses and still stay in the black. We examine the significance of Zuffa Boxing’s signing of Shakur Stevenson, and GSP’s claims that he made great strides in fighting the UFC’s tyranny. There’s a lot more, so make sure to follow along with our outline as you listen:*We urge you to pick up a paid subscription, as it helps us keep the show going* Episode 255 Outline* Are there any new updates or filings to the UFC antitrust cases?* Late last week, it was revealed that Donald Trump invested in TKO. Why is that a problem?* Internal memos show the pentagon is trying to recruit a certain type of military troop to attend the White House card. Further, they want those troops to pay for their own travel to the card. Could UFC eat those costs and still stay in the black?* Is the UFC not telling the whole story with revenue streams for the WH card?* Eddie Hearn says that he wants to get Tom Aspinall out of his UFC contract and he uses some of Dana White’s ideology. “Dana said, ‘Eddie should want fighters to earn as much money as possible. He should be happy for Conor Benn that he’s making more money.’ ... Dana White should be happy for Tom Aspinall to receive that deal.” What do you make of that?* Speaking of Eddie Hearn, he is reporting that Shakur Stevenson has already signed with Zuffa Boxing. How significant is this signing?* GSP recently went on Demetrious Johnson’s podcast where he discussed why the bigger name stars in the UFC carry a responsibility to help other fighters get better pay, the way he says he did, himself. What are your thoughts on his comments?* Dana White quipped on the Pat McAfee show last week that TKO was “like the mafia, they’ve got a piece of everything” in regards to a question on whether TKO has a stake in Power Slap. What did you think of that statement?*Motion to seal exhibits, declaration of Lorraine Moise*

May 29, 202636 min

Why Dana White's 'We offer 3 fights a year' is a lie | Ep. 254

This is a free preview of a paid episode. To hear more, visit heynottheface.substack.com SUPPORT EXPANDING THE ALI ACTIn today’s episode, we’re looking Dana White’s latest media rounds. We discuss his comments on comparisons to WNBA base pay, and his false claim that UFC offers three fights per year. We provide a thorough breakdown of tolling provisions and why Dana’s claims are untrue with citations directly from UFC contracts. There’s a lot more, so make sure to follow along with our outline as you listen:*We urge you to pick up a paid subscription, as it helps us keep the show going* Episode 254 Outline* Are there any updates to the UFC antitrust cases?* We talked last week about possible match-ups MVP could do to maximize a second card. After watching Rico Verhoeven vs. Oleksandr Usyk, what are your thoughts on that now?* Ronda Rousey is angling for a rematch with Holly Holm. How well do you think that fight would do as a main event on MVP’s next MMA event?* How is Netflix positioned, as far as MVP is concerned?* TKO is affiliated with Brand Risk, a celebrity influencer-based promotion that is under fire for fight-fixing. What are your thoughts on Brand Risk?* It’s been reported that Conor McGregor wanted to fight Michael Chandler, but UFC said it didn’t make sense for them. Has Conor’s leverage with the company evaporated?* The UFC 329 VIP packages are insanely priced, with some as high as $20K, and they’re completely sold out. What do you make of Conor’s drawing power?* Dana White has been making the interview rounds ahead of the White House card. What do you make of all the media he is doing and coverage he is getting?* When asked about the WNBA increasing their base pay minimum, he said it was ridiculous to compare salaries with the WNBA and that fighter pay has gone up every single year. Has it?* He also spoke about having to offer fighters 3 bouts per year. What part of his talking points in that conversation did you find issue with?*Minutes of proceedings from status conference, dated 5/18/26*

May 22, 202640 min

What is Scott Coker actually trying to do? | Ep. 253

This is a free preview of a paid episode. To hear more, visit heynottheface.substack.com SUPPORT EXPANDING THE ALI ACTIn today’s episode, we’re looking at the news of Scott Coker’s re-entry to MMA as a promoter with seed money for a new promotion. We also discuss MVP MMA’s big numbers in viewership and at the gate and Nakisa Bidarian’s idea that they can help Conor McGregor maximize his value in free agency There’s a lot …

May 19, 202635 min

MVP MMA debut from top to bottom | Ep. 252

This is a free preview of a paid episode. To hear more, visit heynottheface.substack.com SUPPORT EXPANDING THE ALI ACTIn today’s episode, we’re looking at the status conference held for the UFC antitrust cases regarding the possible spoliation by UFC officials. We’re also discussing the MVP MMA card in detail. We go over the payouts, Jon Jones’ comments about getting out of his contract, the proposed second event by year’s end, Nate Diaz’ intent to keep fighting, and Dana White’s timing on announcing Conor McGregor’s return fight. There’s a lot more, so make sure to follow along with our outline as you listen:*We urge you to pick up a paid subscription, as it helps us keep the show going* Episode 252 Outline* Today, the status conference for the UFC antitrust cases took place. What did we learn from the proceedings?* What’s next in these cases?* The Rousey vs. Carano Netflix card went down, and by all accounts, was a roaring success. What did you think of it?* The house was about 90% full (as reported by Casey Leydon, Alex Behunin and Josh Gross) by the time Gina and Ronda took to the cage. Does that sound like it might’ve been profitable?* What did you think of the timing of Dana White’s Conor McGregor fight announcement via his personal instagram (rather than a UFC channel or during an event)?* Nakisa Bidarian says that MVP has plans to do another MMA event by year’s end. What are your thoughts on that?* Nate Diaz is still ready to keep fighting. Do you think he still has value to extract by the promotion?* Francis Ngannou donated his $100K bonus to his opponent. What did you think of that?* The purses were released, and looked great for a debut event, but were the key players compensated well enough?* Jon Jones was on the desk and spoke about how great the production was and that he thought MVP did a better job than UFC. Do you agree with him?* He also spoke about wanting to get out of his contract so he could fight Ngannou. Nakisa Bidarian said he didn’t think that could happen. What did you think of what he said?* It seemed that Jake Paul was very much trying to sus out more fights, especially with Mike Perry and Francis Ngannou. How successful do you think fights with those guys would be?*Plaintiff’s renewed application for enforcement*

May 15, 202642 min

Should WWE talent unionize? | Ep. 251

This is a free preview of a paid episode. To hear more, visit heynottheface.substack.com SUPPORT EXPANDING THE ALI ACTIn today’s episode, we’re looking at the letter Dana White sent to Donald Trump, the deal TKO struck with Arizona, and Kevin Nash’s crusade against TKO. We also discuss MVP’s bold claims that they’re cutting fighters in for more than 50% of the revenue from the Rousey-Carano card, and Jorge Masvidal’s comments on fighter pay. There’s a lot more, so make sure to follow along with our outline as you listen:*We urge you to pick up a paid subscription, as it helps us keep the show going* Episode 251 Outline* Are there any updates to the UFC antitrust cases?* There have been several instances of boxers and promoters complaining about TKO’s proposed Ali Act amendment, most notably Roy Jones, Jr. and Eddie Hearn. What do you have to say about their arguments?* It’s being reported by Ring Magazine that Vasiliy Lomachenko is coming out of retirement now that his deal with Top Rank has expired. Where do you think he’ll end up if the report is true?* WWE legend Kevin Nash has been discussing TKO/WWE’s attempts at getting talent to take 50% pay cuts. Do you think he has a point in saying UFC is hemorrhaging money?* What about his idea that WWE talent should unionize and join SAG-AFTRA?* TKO reached an agreement with Arizona on a multi-event deal. What are the details and what do you think of it?* Dana White sent a letter to Donald Trump asking for relief on gambling legislation. What are the details of that?* Some state representatives have praised him publicly on this (Dina Titus). How likely is it that we’ll see more support from other state officials?* Jorge Masvidal discussed fighter pay. What points did he make and do you agree with what he said?* Nakisa Bidarian told Ariel Helwani that they are paying much more than 50% of the revenue to the fighters. Some were saying this is not a viable business model. Do you agree with them, and do you think MVP is really paying that high of a share?* Dana White gave a recent interview where he discussed Joe Rogan, and how some sponsors suggested to UFC that they fire him. Dana basically told them to get bent. How important is Joe Rogan to the UFC empire?* Matt Brown recently replied to a Twitter post about Dana White’s contributions to the UFC. He said, “The way I see it Campbell McLaren and the Gracie’s built a great product but couldn’t get the funding and/or business ability to scale it. Dana seen an opportunity, had the connections to make it happen, and got it done. Have to respect that. Learn from it rather than hate it imo.” There’s a lot of myth to Dana’s legend, so how close did Matt get to the reality of what Dana actually did?*Search term proposal*

May 12, 202645 min

Dana White said what? | Ep. 250

This is a free preview of a paid episode. To hear more, visit heynottheface.substack.com SUPPORT EXPANDING THE ALI ACTIn today’s episode, we’re looking at the many comments Dana White has made during interviews and press conferences over the last several days. We discuss his comments on fighters having to work extra jobs and collective bargaining from his interview on the Breakfast Club. We also examine some of his commen…

May 8, 202639 min

UFC revenue went up but did fighter pay go up too? | Ep. 249

This is a free preview of a paid episode. To hear more, visit heynottheface.substack.com SUPPORT EXPANDING THE ALI ACTIn today’s episode, we’re looking at the latest updates to the UFC antitrust cases, and the latest TKO financials that were revealed in their latest SEC filing. We also discuss TKO’s earnings call where Mark Shapiro fielded questions and discussed their enduring ties to the Saudis. We also look at some wild ways the UFC is maximizing their value extraction of the White House card. There’s a lot more, so make sure to follow along with our outline as you listen:*We urge you to pick up a paid subscription, as it helps us keep the show going* Episode 249 Outline* Are there any updates to the UFC antitrust cases?* TKO’s SEC filings came out this week. What did we learn from them about TKO and UFC’s finances?* Did it give us any information about Zuffa Boxing?* Mark Shapiro had some interesting comments during TKO’s earnings call. The first one that really caught my eye was his confirmation that the Saudis will not be pulling up their investment stakes in TKO. Is that mostly due to TKO’s very powerful ties to the Trump administration, or because they invested so much into the Paramount/WB deal?* Do you see any scenario where they might be forced to dump their stake in Zuffa Boxing?* Once again, Shapiro reinforced the plan to keep their scheduled events in the Middle East on track. Do you think that’s a wise move?* CFO Andrew Schleimer said that fighter compensation continues to grow as “we would never turn a blind eye to our most meaningful investment.” He only cited the doubling of the bonus structure, so my question is, have you heard whether they’ve made any increases to regular compensation?* It was reported that UFC has “partner investment” specialty tickets for the White House event. What do we know of them?* Shapiro also said that UFC was going to take a $30M loss on the White House event. After seeing the value extraction measures they’re taking with this card ($3500 posters, $5K names on canvas, and $1.5M specialty tickets), do you buy into that theory?* Shapiro said “we don’t buy it” referring to fan criticisms of card quality, both for UFC and WWE, citing their numbers and saying that there are always ebbs and flows. That’s something you’ve said as well, but you also noted that this seems to be an unusually long ebb. Do you still hold to that thought after seeing their latest finances?* When asked about other promotions having big, one-off events, Shapiro said that everything is competition in combat sports with other events, but didn’t seem to have any concerns about those competitors. Should he be concerned with the competitors?* MMA Junkie had an article written by MMA manager Alex Davis where he talked about how the UFC has MMA in a state of crisis. Do you agree with him?*Defendant’s motions to seal*