White confirms UFC has been sold to group for $4 billion | Inquirer Sports

White confirms UFC has been sold to group for $4 billion

/ 03:17 PM July 11, 2016

Dana White, center, stands between Daniel Cormier, left, and Jon Jones during a UFC 200 mixed martial arts news conference, Wednesday, July 6, 2016, in Las Vegas. Cormier and Jones are scheduled to fight in a light heavyweight championship fight at UFC 200 on Saturday. AP

Dana White, center, stands between Daniel Cormier, left, and Jon Jones during a UFC 200 mixed martial arts news conference, Wednesday, July 6, 2016, in Las Vegas. Cormier and Jones are scheduled to fight in a light heavyweight championship fight at UFC 200 on Saturday. AP

LOS ANGELES — UFC President Dana White says the mixed martial arts promotional company has been sold for approximately $4 billion to a group of investors led by Hollywood talent agency WME-IMG.

White confirmed the sale in text messages to The Associated Press on Sunday night.

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White will stay on to run the UFC, which has grown from a money-losing promotional company in a minor sport into a global entertainment brand. UFC owners Frank and Lorenzo Fertitta kept only a minority interest in the company.

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The Fertitta brothers and White purchased the promotion for $2 million in 2000, and the brothers’ casino fortune kept it afloat while MMA gained widespread acceptance and increasing popularity.

The New York Times first reported the completion of the long-rumored deal.

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TAGS: Dana White, frank fertitta, lorenzo fertitta, sold, UFC, WME-IMG

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