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UFC sold for 4 billion

<p>The UFC has officially been sold by Zuffa, LLC.</p> <p>WME | IMG <a href="http://img.com/news/news/2016/july/wme---img-to-acquire-ufc®.aspx">released a statement </a>Monday morning announcing its acquisition of the promotion, which has been <a href="http://www.nytimes.com/2016/07/11/business/dealbook/ufc-sells-itself-for-4-billion.html?_r=0">confirmed to be $4 billion</a>. The international management company, which has been heavily involved in the sports industry, will be joined by Silver Lake Partners and KKR as strategic investors as well as MSD Capital, L.P. and MSD Partners, L.P. who will provide preferred equity financing. The Fertitta brothers,&nbsp;who grew the UFC from $2 million to $4 billion over the course of fifteen years,&nbsp;will still hold non-controlling interest in the company.</p> <p>While Dana White will still remain the UFC president and continue serving in its day-to-day operations, the Fertitta brothers will be stepping down.</p> <p>&ldquo;We&rsquo;re confident that the new ownership team of WME | IMG, with whom we&rsquo;ve built a strong relationship over the last several years, is committed to accelerating UFC&rsquo;s global growth,&rdquo; Lorzeno Fertitta was quoted in the statement. &ldquo;Most importantly, our new owners share the same vision and passion for this organization and its athletes.&rdquo;</p> <p><a href="http://www.mmafighting.com/2016/7/11/12148462/zuffa-informs-fighters-of-ufc-sale-via-e-mail">The email</a> which was sent out to UFC fighters this morning to inform them of the sale of the company can be read below.</p> <blockquote> <p><em>Dear Athletes,</em></p> <p><em>We are writing to personally advise you of a change to UFC. Renowned entertainment, sports and fashion giant WME | IMG has entered into agreement to acquire UFC. Silver Lake Partners, KKR, MSD Capital, L.P. and MSD Partners, L.P. will join WME | IMG as new strategic investors. The transaction is subject to customary closing conditions.</em></p> <p><em>From the moment Zuffa, LLC purchased UFC over 15 years ago, you, the athletes, have always been the central focus of the promotion. That will not change. WME | IMG, who has been involved with UFC for many years, is focused on the continued global expansion of mixed martial arts and committed to further promotion you on the global stage.</em></p> <p><em>Upon closing of the deal, Lorenzo Fertitta will be stepping down as Chairman and CEO of the organization, however Lorenzo and Frank will retain a minority ownership interest in the business. UFC President Dana White will continue in his role and will also retain a minority ownership interest.</em></p> <p><em>The organization&#39;s leadership, a team of great executives hand-picked to help lead the business, will remain in place to carry on their work and continue to lead the team of dedicated employees who promote your careers as mixed martial arts athletes.</em></p> <p><em>You remain a very important part of the highly driven, dedicated and motivated organization that will continue to deliver world-class experiences and opportunities for you as athletes and for the greatest fans in the world.</em></p> <p><em>Thank you,</em></p> <p><em>The Zuffa executive team</em></p> </blockquote>

jamalk599

Jamal Khayat is a writer for RoughCopy MMA. He began his training in combat sports in 2009 and has competed as an amateur in both MMA and boxing. He is currently pursuing a B.S. degree in Physics at the University of Central Florida.

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UFC sold for 4 billion - MMA News