UFC denies sale as reports suggest a staggering $4.2billion bid has been accepted
The Fertitta brothers bought a failing UFC business in 2001 for $2million. Now reports suggest they're set to sell it after transforming it into one of the biggest sporting franchises in the world
REPORTS from the US suggesting the UFC is on the brink of being sold for a staggering $4.2billion have been denied by the promotion's officials.
American-based outlet have reported that multiple sources have confirmed the imminent sale, with a consortium including a group headed by New England Patriots owner Robert Kraft believed to be the buying party.
The group, consisting of WME-IMG, Dalian Wanda Group, The Kraft Group and Tencent Holdings have reportedly had a bid of $4.2billion accepted.
If such a sale did eventually go through it would mean the current majority owners of the UFC, casino-owning brothers Lorenzo and Frank Fertitta, would stand to make an astronomical profit.
The pair formed a joint company - Zuffa LLC - and purchased the UFC from Semaphore Entertainment Group in January 2001 and proceeded to drive the promotion away from an unregulated, banned show to a bona-fide, regulated sport that is now valued as one of the world's biggest sport franchises
But now, more than 15 years since they took a gamble and bought those three letters, the Fertittas have reportedly decided to cash in their chips.
Forbes Top 10 Most Valuable Sports Franchises (2015)
1. Real Madrid - $3.26bn
2= Dallas Cowboys - $3.2bn
2= New York Yankees - $3.2bn
4. Barcelona - $3.16bn
5. Manchester United - $3.1bn
6= Los Angeles Lakers - $2.6bn
6= New England Patriots - $2.6bn
8. New York Knicks - $2.5bn
9= Los Angeles Dodgers - $2.4bn
9= Washington Redskins - $2.4bn
FloCombat's sources suggested current UFC president Dana White would remain at the helm, with matchmakers Joe Silva and Sean Shelby set to remain with the company.
Also, former UFC EMEA boss and current Chief Global Brand Officer Garry Cook has been mooted as a possible new CEO under the new regime.
However, following the release of FloCombat's report, UFC Vice President of Public Relations, Athlete Marketing & Development Dave Sholler told no sale had been made.
“FloCombat.com’s report indicating that the UFC has been sold is false," he explained.
“We’ve communicated that to our staff members tonight via an internal memo.”
MMAJunkie reports the memo stated the UFC has "instructed our attorneys to investigate and take all appropriate legal actions against the parties publishing and contributing to these false stories".
