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MANILA, Philippines – Even though there was a change in leadership at the Ultimate Fighting Championship (UFC), its new owner reassures the fighters of their role in the new management, and touts efforts to expand the organization’s global reach.
Zuffa LLC has sold the world’s premier mixed martial arts (MMA) promotion to William Morris Endeavor and International Management Group (WME-IMG) for a reported $4 billion.
The ownership group is headed up by WME-IMG, an entertainment agency headed by Ariel Emanuel, a longtime friend of the UFC.
Backing the deal are private equity heavyweights such as Silver Lake, Kohlberg Kravis Roberts, and the investment firm of billionaire Michael S. Dell.
Despite the lucrative sale of the UFC, Emanuel and his WME-IMG co-chief executive officer (CEO) Patrick Whitesell stressed that the athletes will remain as the backbone of the organization.
“We’re now committed to pursuing new opportunities for UFC and its talented athletes to ensure the sport’s continued growth and success on a global scale,” they said in a joint statement.
Lorenzo Fertitta will step down from his post as chairman and CEO, while Dana White will keep his position as UFC president.
White made sure that he is one with WME-IMG in continuing to build the UFC as an international brand and making MMA a global sport.
“Our goal has always been to put on the biggest and the best fights for our fans and to make this the biggest sport in the world. I’m looking forward to working with WME-IMG to continue to take this sport to the next level,” the 46-year-old promoter stated.
Lorenzo and his brother, Frank Fertitta, purchased the UFC from Semaphore Entertainment in 2001 for only $2 million.
The Fertitta brothers will retain an ownership stake when the sale is complete, but it will be significantly smaller than their current combined 81%.
White will also have an ownership stake as he presently has a 9% share in the company.
Meanwhile, there will be no corporate restructuring with regards to the promotion’s Asian division, which is headed by general manager Ken Berger.
The UFC is set to stage its second live Philippine event on October 15 at the 20,000-seater SM Mall of Asia Arena in Pasay City. – Rappler.com
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