Formulate an answer to this elaborate question: Richard Jay "Rich" Franklin II, is an American retired mixed martial artist who competed in Ultimate Fighting Championship, as of June 2014, Franklin was announced as a Vice President of which Singapore-based mixed martial arts (MMA) promotion which was launched on 14 July 2011 by multimillionaire entrepreneur Chatri Sityodtong and former ESPN Star Sports senior executive Victor Cui?
ONE Championship