Stephen Espinoza's statement on Showtime Sports shutdown spoils ex-UFC champion's dream

Stephen Espinoza recently released a statement addressing Showtime Sports' shutdown after 37 years in the industry. Given that the network has televised some of the most iconic combat sports events during its nearly four-decade-long programming period, many have been left disappointed at the news of Showtime Boxing being discontinued.

Espinoza recently took to X (formerly Twitter) to reiterate the company's decision not to continue its boxing programming beyond 2023. Promising that Showtime will broadcast scheduled bouts for this year, he wrote:

"While last week's news is difficult and disappointing, we will continue to deliver the highest quality, industry-leading boxing programming that has established us as the unequivocal number one destination for the sport worldwide and to finish what we started in 2023, perhaps the best year in our history"

Former UFC women's featherweight champion Cris Cyborg reacted to Stephen Espinoza's statement and expressed her dismay about not being able to feature on Showtime Sports as a boxer before it went offline.

Calling the latest development the "end of one of the greatest eras in boxing," she wrote:

"End of one of the greatest eras in boxing. When I started it was a goal of mine to have a boxing fight on showtime. Disappointed to see it go before I accomplished that."

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"Resource Allocation" blamed for Showtime Sports shutting down, Stephen Espinoza reportedly laid off

The world of professional boxing and Showtime Sports have a rich and significant history together.

For over 37 years, the network has broadcast some of the most iconic fights of all time, including the record-breaking Floyd Mayweather vs. Manny Pacquiao fight in 2015 and the infamous Mike Tyson vs. Evander Holyfield fights in the 1990s. Even Conor McGregor's blockbuster boxing debut against Mayweather was landed by the premium sports broadcast network.

Unfortunately, Showtime's parent company, Paramount Global, recently announced that they'll be shutting the entire division down at the end of 2023. Veteran boxing journalist Michael Benson confirmed the news and claimed that Showtime Sports executive Stephen Espinoza will also be laid off.

Taking to X, Benson reiterated the company statement and confirmed that the developments come in light of ever-changing market requirements and evolving corporate priorities. He wrote:

"Now officially confirmed that Showtime Sports, including Showtime Boxing, will be shutting down at the end of this year. Stephen Espinoza is reportedly being laid off and has said in a statement: “The company’s decision is not a reflection of the work we have done in recent years... Unfortunately, in a rapidly evolving media marketplace, the company has had to make difficult choices allocating resources, resetting priorities, and reshaping its content offering."