Dana White has been through one hell of a week. The UFC President has been pretty busy with the UFC 200 card which faced its own challenges for well over a month. From Conor McGregor faking a retirement to Jon ‘Bones’ Jones being forced to drop out of the fight card and even finding a way to add Brock Lesnar to the card, Dana White had a big challenge ahead of him.
Despite heavy criticism the card received, the UFC’s president made the event happen without a hitch. Now, just a couple days after, the company is being sold in the biggest organizational sale in major sports history.
Following from the Associated Press.
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.
The New York Times first reported the completion of the long-rumored deal. It has financial backing from private equity firms Silver Lake Partners, which owns WME-IMG, and Kohlberg Kravis Roberts, along with the investment firm of billionaire Michael Dell, founder of Dell Computers.
“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.
