UFC sold for $4 billion – reports

MANILA, Philippines – For the first time in 15 years, the Ultimate Fighting Championship (UFC) has a new set of owners as the world’s premier mixed martial arts (MMA) organization has been sold for approximately $4 billion. 

According to numerous reports, including from The New York Times and CBS, the Las Vegas-based MMA promotion has been sold to a group led by WME-IMG, an entertainment agency whose head honcho Ari Emanuel is a longtime friend of the UFC.

Backing the deal are the private equity heavyweights such as Silver Lake, Kohlberg Kravis Roberts and the investment firm of the billionaire Michael S. Dell. 

Company president Dana White tweeted a smiley when the news broke out.

— Dana White (@danawhite) July 11, 2016

Reports also state that UFC chairman and chief executive officer Lorenzo Fertitta will make an official announcement on Monday morning, July 11 (late Monday evening in Manila).

Fertitta will step down from his post after a transition period as per various reports, while White will remain as the league’s president. White told Yahoo’s Kevin Iole that he’ll miss working with Fertitta.

“I’m obviously bummed about not being in business with my best friend and my partners of 20 years,” said White, adding “I am happy about the future of the UFC, the sport and my role moving forward.”

Lorenzo and his brother Frank Fertitta purchased the organization 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 percent. 

Meanwhile, the report said that White will also have an ownership stake as he currently has a 9% share in the company.

The UFC had denied rumors about the sale of the promotion several weeks ago when the buzz started to swirl. 

White had repeatedly brushed off rumors of a buyout, but he admitted that the UFC was always entertaining offers.

The $4 billion sale of the UFC is expected to be the largest for a franchise in sports history. – Rappler.com