UFC sold for $4 billion, White stays on to run promotion
LOS ANGELES — In less than 16 years, the UFC has grown from a money-losing company in a widely reviled sport into a global entertainment property worth $4 billion.
While the UFC and its new owners figure out the company’s next steps, Lorenzo and Frank Fertitta are tapping out of mixed martial arts with a remarkable return on a $2 million investment.
The UFC has been sold for approximately $4 billion to a group led by Hollywood entertainment conglomerate WME-IMG, both companies confirmed Monday.
The sale will spectacularly benefit the Fertitta brothers and UFC President Dana White, who first persuaded his wealthy high school buddies to buy the cage fighting promotion in 2001. White also owned 9 per cent of the company, and he isn’t going anywhere despite his own windfall: He’ll remain the boss and public face of the UFC while keeping an ownership stake.