UFC Sells For 4 Billion Dollars
LOS ANGELES (CBSNewYork/AP) — The UFC has been sold for approximately $4 billion to a group led by Hollywood talent agency WME-IMG.
UFC President Dana White confirmed the sale of the mixed martial arts promotional company in text messages to The Associated Press on Sunday night. WME co-CEO Ari Emanuel also announced the sale early Monday in an internal company email that included SNTV — a joint venture between The Associated Press and IMG.
“We’ve been honored to have UFC and a number of its athletes as clients and couldn’t be happier to take our relationship to this next level as the organization’s owner and operating partner,” Emanuel said.
White will stay on to run the UFC, which has grown from a money-losing promotion in a minor sport into a global entertainment brand. UFC owners Lorenzo and Frank Fertitta have tapped out of the company after nearly 16 years, although they’ll retain a minority interest. The Abu Dhabi government still owns 10 percent of the UFC as well.
“UFC has experienced tremendous growth over the last decade and we are looking forward to helping the organization and its athletes identify new opportunities to develop and further establish their global footprint,” Emanuel said.
The UFC was founded in 1993 as the Ultimate Fighting Championship, staging violent fights that were banned or unregulated in many areas. The Fertitta brothers and White, their high school friend, purchased the promotion for $2 million in 2001.
With White as the promotional face and Lorenzo Fertitta as its chairman, the Las Vegas-based UFC was kept afloat by the Fertittas’ casino fortune while the sport once labeled by John McCain as “human cockfighting” gradually gained widespread acceptance and popularity.
How do you bury the news of a lackluster UFC 200? How about selling the thing for FOUR BILLION dollars? That should do the trick. Obviously this sale was in negotiation for a long time (ever since Rovell put Dana White in a locker and probably months before that) and the price of the sale has zero to do with Saturday night but that’s some pretty decent timing right there. 2 million dollars in 2001 to 4 billion in 2016. I’m not a financial guy but that feels like a decent ROI right there. I can’t even imagine what I would do with that type of cash. How do you even properly celebrate? No party seems worthy enough of a 4 billion dollar sale. Just stupid stupid money.
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The good news as well is that Dana White will stay in charge. Feel like that will keep the UFC essentially the same from a fan’s perspective.
Oh and finally, Rovell gets his victory lap. The Nerds have their day!
