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UFC (Ultimate Fighting Championship) President Dana White on Monday
morning, said that the mixed martial arts promotional company (UFC) has
been sold for approximately $4 billion to a group of investors led by
Hollywood talent agency WME-IMG. The sale will make it the largest in
Sporting history for any Sports Franchise. White confirmed the sale in
text messages to The Associated Press on Sunday night.
morning, said that the mixed martial arts promotional company (UFC) has
been sold for approximately $4 billion to a group of investors led by
Hollywood talent agency WME-IMG. The sale will make it the largest in
Sporting history for any Sports Franchise. White confirmed the sale in
text messages to The Associated Press on Sunday night.
The
Fertitta brothers and White purchased the promotion for $2 million in
2000, and the brothers’ casino fortune kept it afloat while MMA gained
widespread acceptance and increasing popularity.
UFC
CEO Lorenzo Fertitta is reportedly expected to step down as chairman
following a transitional period, after which he and his brother, Frank
Fertitta, will remain on as minority owners. Dana White is expected stay
on as president and will also hold a minority stake, according to the
report.
CEO Lorenzo Fertitta is reportedly expected to step down as chairman
following a transitional period, after which he and his brother, Frank
Fertitta, will remain on as minority owners. Dana White is expected stay
on as president and will also hold a minority stake, according to the
report.
Rumors of a sale began
strongly in May when reports of a deal being in the late stages began to
circulate. Then three weeks ago FloCombat began reporting the sale to
WME-IMG. White responded to these reports in a company memo to his
employees denying the sale, and threatening to take legal action against
the reporters.
strongly in May when reports of a deal being in the late stages began to
circulate. Then three weeks ago FloCombat began reporting the sale to
WME-IMG. White responded to these reports in a company memo to his
employees denying the sale, and threatening to take legal action against
the reporters.
The transaction comes just as
U.F.C. concluded its latest series of fights, perhaps the biggest in the
organization’s history. The event, U.F.C. 200, drew more than 18,000
fans to Las Vegas but was marred by some controversy, including the
absence of stars like Ronda Rousey, Conor McGregor and Jon Jones, the
last of whom was removed after testing positive for an undisclosed
substance.
U.F.C. concluded its latest series of fights, perhaps the biggest in the
organization’s history. The event, U.F.C. 200, drew more than 18,000
fans to Las Vegas but was marred by some controversy, including the
absence of stars like Ronda Rousey, Conor McGregor and Jon Jones, the
last of whom was removed after testing positive for an undisclosed
substance.
