The worst kept secret in MMA appears to have just become a reality.
Despite declarations by UFC brass that these reports have no merit, Jeremy Botter of FloCombat.com is this morning reporting that the sale of the UFC from Zuffa LLC to an investment group headed by the William Morris Endeavour-IMG Agency has been signed, sealed and delivered.
While no official announcement has been made, it is understood that the company was sold for a price in the region of $4 billion (€3.7 million). This represents an atonishing increase in value for the company originally purchased by Las Vegas casino magnates Lorenzo and Frank Fertitta who paid $2 million in 2001 to acquire the company's assets and its $40 million debt.
As recently as yesterday UFC Vice President of Public Relations Dave Sholler has stated that there was no truth to any of the rumours that a sale had been agreed (though he failed to address rumours of negotiations in process) but it now seems that these were very deliberate remarks made to keep the UFC ahead of the story before the sale was formally announced.
The investment group who is understood to have won the bidding for the UFC includes members of Dalian Wanda, operators of the largest cinema franchise in the world, Tencent who run the largest internet portal in China and the Kraft Group who own several US sporting franchises, including the New England Patriots.
FloCombat reports that the Fertitta brothers will now completely sever ties with the UFC to focus on growing their casino business.
Dana White, whose 8.89% stake in the company has also been sold as per this deal, will be given new stock in the company to remain in his role as President.
Garry Cook, former chief at Manchester City and UFC employee for several years now, is a strong candidate to replace Lorenzo Fertitta as CEO. Another even more interesting potential CEO is Ari Emmanuel, who heads the WME-IMG investment group and TV viewers will know as the inspiration for Ari Gold on the series 'Entourage'.
The sale is expected to be revealed during the UFC's International Fight Week in July.
