The Ultimate Fighting Championship (UFC) has been sold to talent agency William Morris Endeavor-International Management Group (WME-IMG).
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The firm will focus on accelerating the sport’s popularity and presence around the world with the aid of Silver Lake Partners and KKR who join IMG as new strategic investors. The Fertitta brothers, along with childhood friend Dana White, bought the UFC in 2001 for a reported $2 million before growing it into a global phenomenon.
“Most importantly, our new owners share the same vision and passion for this organisation and its athletes”.
Earlier this year, the UFC also earned a victory in NY politics as after an eight-year fight, mixed martial arts was legalized in the state.
From representing UFC performers including former women’s bantamweight champion and media sensation Ronda Rousey, WME-IMG will now own the entire operation, providing itself with a prime source of content.
UFC’s parent, Zuffa LLC, which gets its name from the Italian word for “fight”, was previously controlled by casino moguls Frank and Lorenzo Fertitta.
White, who had denied the organization was for sale for the past two months, told ESPN on Sunday night that fans should not be concerned about the change in ownership.
Current UFC president Dana White is set to continue in current role. Dana White, UFC’s outspoken president, will remain in his post.
WME-IMG has been looking to move more aggressively into sports programming content.
The terms of the deal were not officially disclosed in Monday’s announcement of their acquisition, though Las Vegas Now reported the sale price as $4billion (£3.1bn).
UFC 200 came to T-Mobile Arena in Las Vegas on Saturday.
The Fertitta brothers will continue to have a minority stake in UFC, while Lorenzo Fertitta will be stepping down as the chairman and CEO of the organization, according to USA Today.
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UFC, founded in 1993, is one of the largest sports brands in the world and it produces more than 40 live events annually.
