By Sean Ross Sapp
After months of speculation, it's happening: The UFC has sold.
KLAS-TV reported Sunday night that paperwork was completed this weekend for current owners of the UFC to sell the company to a group that is made up of International Management Group, MSD, William Morris Endeavor, and KKR.
Longtime UFC President Dana White will remain with the company as things stand now, with CEO Lorenzo Fertitta slowly transitioning out of his role. Frank Feritta reportedly will stay with the company as a minority owner. The Fertitta brothers purchased the company in 2001 for only $2 million. Flash Entertainment, a group from Abu Dhabi, will retain their 10 percent stake in the company, according to ESPN.
News of a potential UFC has bubbled for months, with FloCombat reporting these details regarding a sale in late June. The UFC threatened legal action against reporters, namely Jeremy Botter for releasing the information.
"We’ve been fortunate over the years to represent UFC and a number of its remarkable athletes," said WME - IMG CEOs Ariel Emanuel and Patrick Whitesell in a statement. "It’s been exciting to watch the organization’s incredible growth over the last decade under the leadership of the Fertitta brothers, Dana White and their dedicated team. We’re now committed to pursuing new opportunities for UFC and its talented athletes to ensure the sport’s continued growth and success on a global scale."
Dana White told the Los Angeles Times that he'll be "president, owner, and day-to-day promoter."
"No other sport compares to UFC," said White. "Our goal has always been to put on the biggest and the best fights for our fans, and to make this the biggest sport in the world. I’m looking forward to working with WME IMG to continue to take this sport to the next level."