Donn Davis Steps Down: Knighthead Capital and 885 Capital Take Over PFL Ownership
PFL Ownership Overhaul: Donn Davis Steps Down as Knighthead Capital and 885 Capital Take Lead
The Professional Fighters League (PFL) has entered a transformative new chapter. Donn Davis, the visionary founder who launched the league in 2017, has officially stepped down as Chairman. This transition comes alongside a significant ownership restructuring, with Knighthead Capital Management and UAE-based 885 Capital stepping up as the new lead owners of the promotion.
The End of the Founder Era
Donn Davis took to LinkedIn to announce his departure, reflecting on the journey of building a "valuable alternative" to the UFC. Under his leadership, the PFL rose from a startup concept to the undisputed #2 MMA promotion globally.
"My vision was to create an innovative and premium MMA company... We started with nothing, except universal skepticism. Against all odds, we succeeded." Donn Davis
Davis highlighted the PFL’s unique contributions to the sport, including its season-based format, fighter empowerment initiatives, and rapid international expansion.
New Ownership: Knighthead and 885 Capital
The shift in power sees two major investment firms deepening their commitment to the league:
- Knighthead Capital Management: Known for its ownership of Birmingham City FC, Knighthead first invested in PFL in 2021.
- 885 Capital: The UAE-based firm, which joined as an investor in late 2024, now moves into a primary leadership role.
The move is part of a strategic capital raise designed to clean up the company's balance sheet. According to league sources, the new funds will be used primarily to retire existing debt and provide the necessary "dry powder" for aggressive global growth operations.
A New Strategic Direction
As part of the restructuring, the PFL has established a nine-member board of directors to oversee long-term strategy. While Davis exits the chairmanship, the board has expressed "full confidence" in current CEO Peter Murray (and leadership teams including John Martin) to steer the ship.
Key Focus Areas for 2026 and Beyond:
- Debt Reduction: Moving toward a leaner, more sustainable financial model.
- Global Expansion: Scaling the "PFL International" regional leagues across Europe, MENA, and Asia.
- Institutional Stability: Shifting from a founder-led startup to an institutionally-backed sports property.
Industry Impact: PFL vs. UFC
The 2026 MMA market remains a domestic duopoly. With Knighthead’s sports acquisition expertise and 885 Capital’s Middle Eastern influence, the PFL is positioning itself to challenge the UFC’s dominance in international territories, particularly in the UAE and Saudi Arabia.
Ara Cohen, co-founder at Knighthead, noted: "We have strong conviction in the league’s strategy and global reach... we are proud to expand our ownership as the league accelerates its international impact."
What’s next for the SmartCage? As the PFL moves away from its founding roots, the MMA world will be watching to see if this corporate infusion helps the league finally close the revenue gap with the UFC.