In latest Jon Jones news, the UFC light heavyweight champ lost more money after his scuffle with Daniel Cormier on August 4, 2014.

In a report by MMA Fighting, Jones was fined $50,000 while Cormier was fined $9,000 after they had a brawl in a promotional event for UFC 178 at the MGM Grand Garden Hotel and Casino lobby in Las Vegas. The two fighters will also be required to do several hours of community service. Jones was required to do 40 hours of service in Las Vegas, while Cormier had to complete 20 hours of community service in San Jose, California.

According to Jon Jones news, he seemed to suffer more from the skirmish after Nike allegedly dropped him from its sponsored list. According to MMA Junkie, Jon Jones revealed that he lost the sponsorship by the sports retail giant which was worth "over six figures" each year.

Ofir Ventura, Jones' attorney, said, "It's pretty damaging if you really consider it." Ventura added that Jones also lost another potential sponsorship, which was also worth six figures. Ventura did not disclose the exact amount of the former Nike deal and the name of the other company.

It was actually rare for Nike to sponsor a mixed martial arts athlete. When the company began to sponsor Jon Jones in 2012, footwear and apparel bearing the champion's name were featured and sold. However, Nike is also known to quickly drop athletes who tarnish their reputation.

Jon Jones news revealed that the champ commented about the brawling incident, "I made us all look bad, and as a champion, it was a terrible thing. It was a very heated moment. I've never done anything to disgrace the sport. I've never swore on an interview in my seven-year career. I make a very conscious effort to be a great example and a role model. And so moments like this are embarrassing. It's embarrassing for me and I realize it's going to come with consequences, and as a man, I sit here to accept them."