By TMZ Sports
According to multiple outlets, The Ultimate Fighting Championship [UFC] has been sold for a record $4 billion in the largest single deal in sports history.
The sale had been rumoured for months but multiple sources reported the papers were signed on Saturday, the day the Las Vegas-based mixed martial arts (MMA) franchise held one of its biggest ever events, UFC 200.
Brother Lorenzo and Frank Fertitta originally purchased the sports network for $2 million and own 80 percent of the company.
According to Las Vegas news channel 8 News Now, the brothers will retain a small percentage in the new ownership group.
The new owners include a partnership of WME (William Morris Endeavor), the internationally-known talent agency IMG (International Management Group) and MSD, a private equity group headed by Michael Dell. Also involved as a strategic partner is KKR, a global investment firm.
According to reports, Fertitta will remain as chairman of UFC for up to two months during the transition before stepping down as CEO.
UFC president Dana White, who owns percent of the organization, is expected to continue in his role but will have a smaller ownership stake.
A full announcement is expected to be made on Monday night.
According to the New York Times, the 23-year-old UFC shows content in more than 156 countries and events take place in all 50 states. They generate roughly 2,000 hours’ worth of material each year, much of it available on its Fight Pass streaming service.
