Ultimate Fighting Championship, the promotion that began mixed martial arts 23 years ago and elevated its profile ever since, has been sold for $4 billion to WME | IMG by the Fertitta brothers.
The deal was announced Monday.
Lorenzo and Frank Fertitta first purchased the UFC for $2 million in 2001 from Semaphore Entertainment Group.
The Fertitta brothers, who owned 80 percent of the company, will continue to hold a small stake in the UFC, as will president Dana White, who also will remain as president. Fertitta will step down as chairman after a short transition period.
“We’ve been fortunate over the years to represent UFC and a number of its remarkable athletes,” said WME | IMG Co-CEOs Ari Emanuel and Patrick Whitesell in a statement. “It’s been exciting to watch the organization’s incredible growth over the last decade under the leadership of the Fertitta brothers, Dana White and their dedicated team. We’re now committed to pursuing new opportunities for UFC and its talented athletes to ensure the sport’s continued growth and success on a global scale.”
The UFC just wrapped up its biggest weekend in recent years, with three straight nights of fights in Las Vegas, culminating in its landmark UFC 200. Last Thursday’s card aired entirely on UFC Fight Pass, its digital streaming network.
Earlier this year, the UFC also earned a victory in New York politics as after an eight-year fight, mixed martial arts was legalized in the state. New York, the largest media market in the world, was the 50th state to legalize the sport.
“We’re confident that the new ownership team of WME | IMG, with whom we’ve built a strong relationship over the last several years, is committed to accelerating UFC’s global growth,” Lorenzo Fertitta said. “Most importantly, our new owners share the same vision and passion for this organization and its athletes.”
Under the Fertitta brothers and White, mixed martial arts grew from fringe spectacle under the guise of “sport” to a real sport with state-sanctioned regulations and guidelines for its professional athletes.
It went from being banned on pay-per-view to being a pay-per-view mainstay along with national broadcast deals, first with Spike TV and now with Fox Sports. The UFC also has an apparel deal for its fighters with Reebok.
- Newsday