Before becoming the president of the UFC, White managed a bunch of fighters including Liddell.
And the pair used to tour the world to promote their brand and during one trip in America, 'The Iceman' had a run in with a hotel security guard and won White a tasty bet.
In Liddell's autobiography, he wrote: "Those first few years no one knew us on the East Coast. I toured Ibiza, Spain, with Dana and was stopped every five feet.
"But in Boston or New York or Philly, I was just some guy with a Mohawk people crossed the street to avoid.
"One night we went out after a day of pushing the UFC and wound up at our hotel at around two in the morning.
"It was a fancy place, not the kind of joint where you'd try to take someone down in the lobby. But the basement, that's another story.
"While I went straight back to my room that night, Dana got into a conversation with one of the hotel security guards, who wanted to know what was up with Dana's buddy with the tattoo on his head.
"Dana told him I was a UFC fighter. The guy's first response was 'This is all crap. None of that stuff is real.'
"Dana answered, 'I've got five grand in my pocket and I guarantee that you can't last five minutes with Chuck Liddell.' The guy took the bet.
"Then Dana called me down into the lobby. He told me he had five grand riding on me to beat the crap out of this hotel security guard, who used to be a high school wrestler.
"I had two minutes to make him tap out. Anything less, and Dana was out five thousand bucks.
"Within a few minutes a large portion of the hotel staff were in the lobby of this four-star hotel at two in the morning to see the ultimate fighter take on the hotel security guard.
"It was like the old days of Vale Tudo fighting in Brazil - we were all part of the circus, just looking to entertain the masses, make a few bucks, and win a few fans.
"And, in less than two minutes, just as Dana asked, it was over."