LOS ANGELES: The UFC has been sold for approximately $4 billion to a group led by Hollywood talent agency WME-IMG.
UFC President Dana White confirmed the sale of the mixed martial arts promotional company in text messages to The Associated Press on Sunday night.
White will stay on to run the UFC, which has grown from a money-losing promotion in a minor sport into a global entertainment brand. UFC owners Lorenzo and Frank Fertitta came out of the deal with only a minority interest.
The New York Times first reported the completion of the long-rumored deal. It has financial backing from private equity firms Silver Lake Partners, which owns WME-IMG, and Kohlberg Kravis Roberts, along with the investment firm of billionaire Michael Dell, founder of Dell Computers.
The Fertitta brothers and White purchased the promotion for $2 million in 2001. With White as the promotional face and Lorenzo Fertitta as its chairman, the Las Vegas-based UFC was kept afloat by the Fertittas’ casino fortune while MMA gained widespread acceptance and increasing popularity.
The UFC was founded in 1993 as the Ultimate Fighting Championship, staging violent fights that were banned or unregulated in most areas. After the Fertitta brothers and White took over, they steadily built their company and MMA into a thriving sport with ever-increasing worldwide appeal, using cable television and the Internet to get it in front of young fans.
The promotion now boasts a stable of fighters with mainstream fame, including Conor McGregor, Brock Lesnar and Ronda Rousey, who is represented by WME.
On Saturday night, the promotion staged UFC 200 in its hometown. The event drew 18,202 fans to T-Mobile Arena and took in $10.8 million in ticket sales, both Nevada records for the company.
UFC sold to group for $4 billion, Dana White confirms
UFC sold to group for $4 billion, Dana White confirms
Australia injury woes continue with skipper Marsh ruled out of World Cup opener
- Former captain Steve Smith will join squad in Sri Lanka as cover while Travis Head captains team
- Marsh sustained direct blow to the groin during training earlier this week, Cricket Australia says
Australia captain Mitchell Marsh will miss the opening game of their Twenty20 World Cup campaign against Ireland on Wednesday with a groin injury, Cricket Australia (CA) said.
Steve Smith will now join the squad in Sri Lanka as cover, with fellow batsman Travis Head captaining the side at Colombo’s R Premadasa Stadium and Matthew Renshaw coming into the team.
Marsh sustained a direct blow to the groin during training earlier this week and is experiencing pain and discomfort which is restricting his movement, the board added.
“Scans have confirmed internal testicular bleeding, and he will require a period of rest and rehabilitation. His return to play will be guided by symptom resolution and medical advice,” CA said in a statement.
Head said at the toss later that Marsh was unlucky to miss out and appeared to play down the seriousness of the injury. He did not give a timeline for his teammate’s return.
“Unfortunately Mitchie Marsh has copped a blow at training a couple of days ago and no one has been willing to massage it out for him,” Head joked after winning the toss and opting to bat.
“He’s the unfortunate one but the rest (of the side) is the same. It’s nice to have a couple of boys back from the Pakistan series. Strong team and we’re looking forward to going well.”
Australia are also without fast bowler Pat Cummins, who was ruled out of the event after failing to recover from a niggling back injury. Fellow seamer Josh Hazlewood lost a race to be fit after Achilles and hamstring injuries.
Mitchell Starc has quit the format, leaving them without their top quick bowlers.
The big-hitting Tim David was also ruled out of the first game as he returns from a hamstring strain.
The 2021 champions take on Zimbabwe in their second match on Friday.
