MMA

UFC Sold For $4 Billion

After weeks of rumors, the sale of the UFC is officially completed. The new ownership group will include the William Morris Endeavor (WME), an entertainment agency whose CEO Ari Emanuel is a longtime friend of the UFC; New York-based entertainment company International Management Group (IMG); private equity firm MSD; and New York-based investment firm KKR Co.

In the new deal, Lorenzo Fertitta will step down as CEO while Dana White will remain as President. Lorenzo and his brother Frank Fertitta will retain an ownership stake when the sale is complete, but it will be significantly smaller than their current combined 80 percent.

In the past few weeks the UFC has denied any reports that they were sale, however, they would listen to any offers. In 2001, the Ferttitas purchased the UFC for $2 million from Semaphore Entertainment Group. The $4 billion sale is expected to be the largest for a franchise in sports history, an increase from that original $2 million price tag of nearly 200,000 percent.

Dana White and Lorenzo Fertitta are set to make a formal announcement Monday morning on a CBS affiliate in Las Vegas where they are promising exclusive interviews on the sale. Stay tuned for more information.

 

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Info received from bloodyelbow and mmajunkie.

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