UFC sold for $4bn to WME-IMG and MSD Capital
Mixed martial arts company was bought by Frank and Lorenzo Fertitta for only $2mn
- Dana white to remain as president of the company
- The organisation had revenues of about $600mn in 2015
Updated : 11:49
Ultimate Fighting Championship (UFC) has been sold to sports talent company WME-IMG and investment fund MSD Capital for $4bn, according to KLAS-TV in Las Vegas.
The mixed martial arts brand has grown rapidly in terms of popularity in recent years and owners Frank and Lorenzo Fertitta seem to have decided to cash in on the success of the project.
Chris Maathuis from Klas-TV tweeted the news on Sunday night, saying that the brothers will retain a small percentage of the company, as will current president Dana White.
The Fertitta brothers currently own 80% of the company, buying it for only $2mn 16 years ago, and revenues in 2015 reached $600mn.
Fights are streamed live to users around the world on a subscription basis on both television and over the internet.
Throughout its existence, UFC has also bought many smaller rivals. The company had been the subject of many rumours regarding its sale during last couple of months, and a number of international names, including Chinese companies like Dalian Wanda, were said to have been interested.
White is believed to remain as president of the organisation, which boasts such housegold names as Brock Lesnar and Conor McGregor.
He responded quickly to the news with a tweet with no words, but apparently confirming the news.