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Monday, Jul 11, 2016

UFC Sold to WME | IMG For Reported $4 Billion

Former majority UFC owner Lorenzo Fertitta

By FCF Staff

After weeks of speculation, reports and denials of a sale, the UFC has announced that the promotion has been sold to WME | IMG. The latter is a talent agency based out of Beverly Hills.

Silver Lake Partners and KKR, MSD Capital, L.P. and MSD Partners, L.P. are providing financing for the purchase.

In the official statement announcing the acquisition, no sale figure was disclosed, but the Associated Press is reporting the UFC was sold for approximately $4 billion.

WME | IMG Co-CEOs Ariel Emanuel and Patrick Whitesell were quoted saying in the announcement:

“We’ve been fortunate over the years to represent UFC and a number of its remarkable athletes,” said WME | IMG Co-CEOs Ariel Emanuel and Patrick Whitesell. “It’s been exciting to watch the organization’s incredible growth over the last decade under the leadership of the Fertitta brothers, Dana White and their dedicated team. 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.”

UFC President Dana White, who will remain on his current capacity, stated:

“No other sport compares to UFC. “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 company’s statement also reported that previous majority owners Lorenzo and Frank Fertitta will retain “a passive minority interest”. The Fertitta’s bought the UFC in 2001 for just $2 million dollars.

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posted by FCF Staff @ 10:05 am
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