The Ultimate Fighting Championship (UFC) was acquired by a group of investors led by WME-IMG for approximately $4 billion, UFC President Dana White confirmed on Monday.
The deal had been rumored for months. In 2001, White purchased the company with Las Vegas casino magnates Lorenzo and Frank Fertitta for $2 million, growing its value 2000% in 15 years.
White will remain in charge of day-to-day operations while the Fertittas, who had each controlled 40.5 percent of the company with Lorenzo acting as chairman and CEO, will retain a small minority stake. Lorenzo is stepping down from that role.
Investors besides WME-IMG include private equity firms Silver Lake Partners, Kohlberg Kravis Roberts and MSD Capital, the investment firm of computer billionaire Michael Dell. The government of Abu Dhabi also holds a 10 percent share.
“No other sport compares to UFC,” said White in a statement. “Our goal has always been to put on the biggest and the best fights for our fans, and to make this the biggest sport in the world. I’m looking forward to working with WME-IMG to continue to take this sport to the next level.”
News of the sale comes right after the company’s biggest pay-per-view event in its history, UFC 200. UFC fights currently air in more than 156 countries and all 50 states. Millennials make up 45 percent of its audience, according to the New York Times.
READ MORE: The New York Times, USA Today
[Image courtesy of Rey del Rio/Getty Images via The New York Times]
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