UFC President Dana White confirmed the sale of the mixed martial arts promotional company in text messages to The Associated Press on Sunday night.
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Hollywood talent agency WME-IMG revealed that it is partnering with its owner Silver Lake Partners, Kohlberg Kravis Roberts and MSD Capital, the investment firm of billionaire Michael Dell, founder of Dell Computers, to take over the company. As a report on Bloomberg stated, the company had humbler begginings.
“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”, WME-IMG said in the statement.
The Fertittas bought U.F.C.in 2000 for just $2 million.
Dana White’s five-year contract as UFC president under the new ownership group includes a stipulation where he will receive nine percent of the promotion’s net profits. Interestingly, WME/IMG already represents UFC talent Ronda Rousey. It now claims to be the world’s largest pay-per-view event provider, produces more than 40 live events annually and broadcasting in more than 156 countries and territories.
The Ultimate Fighting Championship’s sale, which had been rumored for months, was announced Monday morning. The Abu Dhabi government’s Flash Entertainment is a 10 percent owner of UFC, whose parent company is Zuffa LLC.
WME-IMG is a leader in entertainment and sports with more than 800 owned, operated and commercially represented events.
The UFC transaction is subject to customary closing conditions.
“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”.
ESPN reported in May that the company was up for sale, which White denied. Flash forward to 2014 and Forbes is now naming the UFC of the most valuable sports brand on the planet. The organization already made moves into niche sports properties past year by buying Professional Bull Riders and forming an e-sports gaming league with Turner Broadcasting.
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However, he and his brother Frank will both ‘retain a passive minority interest in the organization’.
