Dana White became famous as the public face of UFC who transformed a banned-from-television outlaw event into a proper sport.

Along the way, UFC went from the backrooms to the biggest arenas in the world. A sports that used to be considered human cockfighting became something ready for network television, huge deals with first ESPN, and now a $7.7 billion 7-year Paramount partnership.

While becoming respectable, UFC also went public, leading to White’s partners Lorenzo and Frank Fertitta to exit the company (now called TKO). White stayed onboard to lead UFC, and now the company’s Zuffa Boxing Brand.

TKO also owns WWE, and White has become a star in his own right and a right-wing political figure who appears regularly with President Donald Trump. He also tried to recreate the magic of UFC with his own fight brand Power Slap.

That company is distributed by, but not owned by, Thrill Intermediate LLC, a Las Vegas-based media, entertainment, and live event company that has filed for Chapter 11 bankruptcy.

Power Slap timeline:

  • 2022
    • Power Slap is founded by Dana White. 
    • White becomes a co-owner of Thrill One Sports & Entertainment, which owns action- and extreme-sports properties such as Nitro Circus, Nitrocross, and Street League Skateboarding. Source: Press release
  • Late 2022/early 2023
    • Power Slap’s first season launches (Power Slap: Road to the Title). 
    • The broadcast rights are with TBS initially; later moved/supplemented by digital platforms.
  • 2023
    • Power Slap airs on digital streaming platform Rumble, along with all the other Thrill One properties. 
    • Power Slap is treated as part of the Thrill One “family” of content properties for streaming/distribution, but it is not owned by the company.
  • 2024/2025
    • Power Slap moves its media rights again, abandoning Rumble to stream on YouTube while striking sponsorship and naming-right deals (e.g., VeChain).
    • Throughout this period, Power Slap is still associated publicly with Thrill One properties in discussions of distribution, streaming, and joint scheduling contexts.

White wants to build Power Slap into a UFC-size promotion, which he spoke about in an interview with Sports Business Journal. 

More Bankruptcy:

  • Beer brand and brewery files Chapter 11 bankruptcy
  • Italian chain closed most restaurants in Chapter 11 bankruptcy
  • Popular healthcare retail chain files for Chapter 11 bankruptcy

“You can’t worry about the mainstream — they’re always the last to the party,” said the ever-defiant White. “I could [not] give a s*** what the rest of the world thinks. This is identical to when the UFC started, and we already know we’ve been here and done this. [Power Slap League] is the biggest sports story of the year, whether people want to believe it or not.”

Power Slap, while affiliated with Thrill One, in which White appears to retain an ownership interest, remains its own promotion under White’s ownership via Schiaffo LLC, with its own partnerships, revenue streams, media rights, etc.

UFC is not related to Power Slap or Thrill One. 

Image source: Shutterstock

Thrill One files bankruptcy

Thrill Intermediate LLC and its debtor affiliates, a Las Vegas, NV-based holding company, filed for Chapter 11 protection on Sept. 28 in the U.S. Bankruptcy Court for the District of Nevada, Bondoro reported.

Thrill Intermediate LLC reports $50 million to $100 million in assets and $100 million to $500 million in liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. 

The case number is 25-15714.

Bondoro shared a description of the company and its ownership. 

The company traces its roots to 2020, when Nitro Circus, Street League Skateboarding, Nitro Rallycross, and Superjacket Productions were merged into Thrill One, envisioned as a single home for action-sports events and original content. 

…Thrill Intermediate now serves as the parent of Thrill Holdings LLC — the borrower under that facility — and guarantor for a slate of operating entities, including Nitro RallyCross, Nitrocross IP, Crown Media Entertainment and production studio Superjacket (producer of MTV’s “Ridiculousness” franchise).

A request for comment through the company’s website by TheStreet was not immediately returned. 

Thrill One faces legal pressure

“On Sept. 23, 2025, following assertions of events of default under the May 2022 credit agreement, the lender group delivered a notice of exercise of remedies and, acting by proxy under the pledge agreement, executed a written consent and amended LLC agreement to replace Thrill Holdings’ managers. The debtors have challenged those actions in an adversary proceeding, arguing that the proxy was exercised without satisfying contractual notice requirements and is therefore invalid,” Bondoro reported.

Key details of the Thrill One bankruptcy filing:

  • Filing Date: September 28, 2025
  • Court: U.S. Bankruptcy Court, District of Nevada
  • Debtor: Thrill Intermediate LLC
  • 341 Meeting (Creditors’ Meeting): Scheduled for October 30, 2025, at 9 a.m. 
  • Proof of Claim Deadline: January 28, 2026
  • Chapter 11 Plan Due: January 26, 2026
  • Docket Entries: As of September 29, 2025, there are two docket entries: the voluntary petition and a declaration regarding electronic filing through Inforuptcy.

In addition to Thrill Intermediate LLC, several affiliated entities have filed for Chapter 11 protection:

  • Thrill Holdings, LLC: Filed on September 29, 2025
  • Nitro Rallycross LLC: Filed on September 29, 2025

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