The UFC reportedly could have new owners in the near future.
Citing sources, Darren Rovell of ESPN.com reported on Thursday that bidding to buy the entire company “is drawing closer to an end” between two groups—WME-…
The UFC reportedly could have new owners in the near future.
Citing sources, Darren Rovell of ESPN.com reported on Thursday that bidding to buy the entire company “is drawing closer to an end” between two groups—WME-IMG and China Media Capital. Rovell said both “had similar bids in the $4.1 billion range.”
This comes after Rovell reported in May that UFC owners were “in advanced talks to sell the business” for a bid that was “expected to be for a valuation between $3.5 and $4 billion.”
Lorenzo and Frank Fertitta are brothers who set up the company Zuffa. Zuffa purchased the UFC in 2001 for $2 million, so a bid of more than $4 billion would be a significant windfall. Rovell said Zuffa owns approximately 80 percent of the company, while Abu Dhabi’s Flash Entertainment owns 10 percent (which it bought in 2010).
UFC President Dana White also owns part of the UFC and “is expected to be asked to stay in some capacity should a sale go through,” per Rovell.
While Rovell listed the two bidders on Thursday, he did point out they are still looking to finalize the way they would finance the sale. WME-IMG is bidding “in conjunction with Dalian Wanda Group” and is reportedly looking for investors to contribute.
Rovell said the Kraft Group was among those investors who would chip in for WME-IMG. The Kraft Group also owns the New England Patriots in the NFL and the New England Revolution in MLS.
Michael David Smith of Pro Football Talk pointed out Patriots owner Robert Kraft “could be putting money into the pockets of a future competitor” because there has been some discussion that the Fertitta brothers are interested in purchasing an NFL team. Smith said they “have lifelong ties to Las Vegas” and could offer Oakland Raiders owner Mark Davis in an effort to move the team to Las Vegas.
In terms of the sale going through, Dave Meltzer of MMA Fighting noted White appeared on The Dan Patrick Show last month and said the UFC was not up for sale and was instead potentially expanding into other countries such as China and Japan.
While the sale discussions will apparently continue, UFC 200 is scheduled for July 9 in Las Vegas and will feature Brock Lesnar against Mark Hunt.
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UFC 205 will take place on Nov. 12 at Madison Square Garden in New York City, but it is still missing an official main event. Eddie Alvarez made sure the world knew he wants to be part of it on Tuesday.