Phoenix Fighting Championship has taken a big blow, and the reason is unsettled business and turmoil inside of Sayfco Holding, whose president Mr. Chahe Yerevanian, is founder and funder of Phoenix.
Earlier this April, news started circulating about a possible fall of Lebanon’s giant real estate company “Sayfco Holding”, headed by Chahe Yerevanian. Since then, several rumors and accusations started floating around on social media and news sites, before Chahe Yerevanian released his own communication earlier this week on his official Facebook page.
In his statement, Yerevanian, president of Phoenix Fighting Championship mentioned that he literally gave in everything he had to Sayfco Holding, before his investors turned their back on him, accusing him of unethical behavior, and discrediting him.
“I created the biggest Real Estate Empire in less than 10 years. Sold and delivered over 6000 units (100 only remain in Nabay undelivered due to reasons beyond my control). I created the #1 Real Estate Page on social media worldwide. Everyone around me made so much money. Everybody with no exception. And now they turned their back. During the last few toughest years, I brought in investors and sold the majority of my shares in SAYFCO and even mortgaged my house to save SAYFCO. Thats how much I believed in It. My partners had a hidden agenda and their history speaks for itself. They are now attacking me, fabricating things, setting me up to discredit me. May God forgive them.”
It was with heavy words that Chahe stated he has to hold off Phoenix Fighting Championship events, until this phase – which he described as the toughest in his life – clears out.
“Many are doing everything to keep me away from Lebanon. I leave to God and destiny to see what happens next. But wherever Ill be, as I always did, I will proudly raise the Lebanese flag and become #1 in whatever I choose to do.
I will be too busy for the biggest fight of my life, and since they have frozen all my funds, I will have to freeze all PHOENIX events for now.”
For the few who don’t know, Chahe’s Phoenix Fighting Championship had risen in less than two years to become one of the world’s prestigious Muay Thai promotions, and a power force in the Middle Eastern MMA scene. The promotion’s events were broadcast globally and on MBC Action, which boasts more than 150 million Arab viewers.
“In less than 2 years I created the biggest Muay Thai promotion in the World and the leading MMA promotion in the region Phoenix Fighting Championship, broacasted by MBCAction to over 150 million Arab viewers. Many haters envied me as they only dreamed of what I achieved in such a short time. All they do now is bark at me. May God forgive them.”
Born in December 2016 in Beirut, Lebanon, Phoenix Fighting Championship has roamed the world with 8 momentous events, spanning across Beirut, London, Phuket, Bangkok, and the UAE. Overcoming a myriad of challenges, including Lebanon’s MMA ban regulations, hostility in Jordan, and many more, the promotion has managed to make big noise, and bring to the world a wholly Lebanese product that surpassed world class standards.
Phoenix Championship’s next event, Phoenix 9, was scheduled for August 2nd, in Dubai, UAE, with three title fights on the line, including a welterweight title fight between Claudio Cezario and Hayder Hassan, a featherweight title fight between Ali Al Qaisi and Chabane Chaibeddra, and a lightweight title fight between Anas Siraj Mounir and Majdeddine Ayadi.
There are no details yet as to when Phoenix will resume, yet, Yerevanian sounds confident everything will be soon back on track.
“My head will stay up high and I will do my best to fight. God is watching all of us and this is my inspiration and I am ready to face the toughest and most painful obstacles. My name is Chahe Yerevanian and I am a Phoenix, and I will rise again.”