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.
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.
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.
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.
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