UFC sold to WME-IMG-led buyers for $4 billion (Report)
The Ultimate Fighting Championship will announce as soon as Monday that it has sold itself to buyers led by WME-IMG for about $4 billion, according to reports. It would be the most expensive transaction for an organization in the history of sports, ESPN said.
League President Dana White, reached by ESPN on Sunday night, called the sale bittersweet. He had denied that the organization was for sale since an ESPN report two months ago. Brothers Lorenzo and Frank Fertitta bought the 23-year-old organization for $2 million 16 years ago.
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Citing people with knowledge of the deal, the New York Times reported Sunday that the backers include private equity companies Silver Lake, Kohlberg Kravis Roberts, and billionaire Michael S. Dell's investment firm.
UFC is a rich mine of content, offering more than 2,000 hours of programming each year, the paper said. The league's fights are shown in more than 156 countries and across the United States, and skews heavily toward millennials, the Times noted. (CM Punk, pictured, is set to debut soon.)
See photos from UFC 200:
White told ESPN that fans should not be worried about the change in ownership.
"Exact opposite," White said. "Sport is going to the next level."
Read original story UFC Sold to WME-IMG-Led Buyers for $4 Billion (Report) At TheWrap