The world of submission grappling is undergoing a transformation—and at the center of the shakeup is Craig Jones. Once known for his dry humor and slick leglocks, the Australian jiu-jitsu star is now making waves not just on the mats, but in the business of the sport itself.

When Jones launched the first Craig Jones Invitational (CJI) in 2024, it wasn’t just another event—it was a challenge to the establishment. With a prize pool of $2.2 million and total funding of $3 million, CJI became the most lucrative tournament in jiu-jitsu history. Its success sent shockwaves through the sport, drawing in elite competitors and putting serious pressure on long-standing institutions like ADCC.

Now, as the second edition—CJI 2—is set to take place imminently, the grappling world is asking one burning question: who is funding all of this?

A Tournament Built on Mystery

Craig Jones has confirmed that CJI is backed by anonymous investors. He has not revealed names, only that the funding is real, significant, and enough to compensate athletes handsomely.

The decision to keep these backers anonymous has only fueled speculation. How does a new event suddenly produce millions in prize money with no visible sponsors, no broadcast deals, and no corporate branding?

Renzo Gracie Weighs In

In mid-2024, Renzo Gracie confirmed he knows the identity of the person—or people—behind CJI. He refused to name them, but offered a clue: the backer is either from the United Arab Emirates or Florida. He also denied persistent rumors that Mark Zuckerberg was involved, stating clearly that the Meta CEO has nothing to do with the project.

While Renzo’s comments added intrigue, they also lent credibility to the idea that this wasn’t just a marketing stunt—CJI is backed by serious capital.

The Crypto Connection

Online speculation has pointed toward crypto as a likely source. Some believe CJI is quietly funded by a crypto casino or through decentralized finance structures using Tether or other stablecoins. The idea is plausible: crypto enables large anonymous transfers and has already funded major ventures in other sports.

While there’s no hard proof, this theory gained further momentum when Jones was seen in a photo with Roger Ver—an early Bitcoin investor known as “Bitcoin Jesus.” Ver is a libertarian with a history of bankrolling disruptive projects and has expressed interest in both combat sports and decentralization. Some media outlets have speculated that Ver may be the quiet force behind the scenes, though neither he nor Jones has confirmed any connection.

Why It Matters

CJI isn’t just about bigger checks—it represents a philosophical shift. Jones has been outspoken about athlete rights, transparency, and giving grapplers a platform that respects their value. In contrast to the opaque, invitation-only models of older tournaments, CJI has positioned itself as athlete-first, open, and highly incentivized.

That’s a compelling proposition, especially for athletes who have long competed for prestige with minimal financial reward.

With CJI 2 scheduled to happen very soon, anticipation is high—not just for the matches, but for what the event symbolizes: a new frontier in jiu-jitsu where athletes get paid, events break from tradition, and power structures shift.

The Craig Jones Invitational is shaking up jiu-jitsu not only with its record-breaking prize money and bold format, but also with the lingering question: who is paying for it all?

Whether it’s a UAE-based mogul, a Florida investor, or a crypto disruptor like Roger Ver, the truth remains hidden. And maybe that’s part of the mystique. In a sport that thrives on problem-solving, the biggest mystery right now isn’t a submission—it’s the source of the millions behind the mat.

One thing is clear: whoever is funding the Craig Jones Invitational isn’t just supporting a tournament. They’re bankrolling a movement.

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