UFC, the mixed martial arts league, will be sold for $4 billion, making it by far the richest sale in the history of professional sports.
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Despite months of denials by UFC president Dana White that the promotion was for up for sale, the promotion does indeed have a new owner.
White told ESPN that fans shouldn’t worry about the sale, confirming his role with the company won’t change.
“We’ve been fortunate over the years to represent UFC and a number of its remarkable athletes”, WME-IMG co-CEOs Ariel Emanuel and Patrick Whitesell said in a joint statement.
News of the sale, denied the past few weeks, was made on Sunday during the last UFC 200 fight event that featured Brock Lesnar and Jose Aldo.
The company’s parent, Zuffa LLC, is controlled by casino moguls Frank and Lorenzo Fertitta, who will have a passive minority stake in UFC after the transaction closes.
White was expected to stay on as head of the company during the ownership transition and beyond.
White made sure that he is one with WME-IMG in continuing to build the UFC as an worldwide brand and making MMA a global sport. Headquarted in Beverly Hills, WME is the Hollywood talent agency that signed LeBron James to develop film and entertainment projects in 2014. UFC was previously bought for $2 million in 2000.
The global acclaim of the organisation has seen the mainstream emergence of fighters such as Conor McGregor and Ronda Rousey, who is also represented by WME-IMG.
The UFC’s price tag has drawn gasps since it was first rumoured earlier this year, but the consortium is getting a sports property with a unique niche and ample growth potential. The company hosts around 40 event every year that are broadcast in more than 150 countries to around 1.1 billion televisions.
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The UFC has been expanding its brand in recent years, most notably with its deal with Fox and its online streaming service, UFC Fight Pass. UFC and WME-IMG confirmed the deal in a release on Monday morning.
