UFC sold

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 in text messages to The Associate Press Sunday night.

“We’ve been honoured 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,” WME co-CEO Ari 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% of the UFC as well.

“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.

The UFC was founded in 1993 as the Ultimate Fighting Championship, staging violent fights that were banned or unregulated in many areas. The Fertitta brothers and White, their high school friend, purchased the promotion for $2 million in 2001.