UFC Sale Reportedly Finalized For $4.2 Billion, UFC Denies Sale (Updated)
What was once thought unimaginable appears to be a reality.
According to a report from FloCombat's Jeremy Botter, the UFC has accepted a bid of $4.2 billion to be sold to the ownership group of WME-IMG, the Dalian Wanda Group, The Kraft Group and Tencent Holdings, the owners of the largest internet portal in China. While the bid has been accepted, the sale hasn't been completed.
Many bids were submitted but it came down to two groups: the WME-IMG, the Dalian Wanda Group, The Kraft Group and Tencent Holdings team and the other was China Media Capital. FloCombat also reports the CMC's bid was short of what the UFC was looking for in the deal.
The website also reports that in 2015, Fox, which is their TV partner, made an offer to buy the world's largest MMA organization but the bid was denied when the offer came in at half of what the UFC was looking for.
The majority of the money to broker the deal is being put up by DWG and Tencent Holdings. WMG-IMG and The Kraft Group though would act as the faces of the group, particularly in North America.
Questions have surfaced on whether Dana White would remain in the UFC. FloCombat states that White will stay with the UFC. White owns slightly less than nine percent of the company and his shares will be sold as part of the sale, but he will be getting new shares to stay on as UFC President.
Update 6/21 8:35 AM ET: The UFC sent an email to employees denying the report. The email read (h/t to MMA Junkie):
"A report today by FloCombat.com indicating that the company has been sold is false. This follows other false speculation in the press recently.
"Such misrepresentation of facts in the media negatively impacts our business, staff members and athletes. We have instructed our attorneys to investigate and take all appropriate legal actions against the parties publishing and contributing to these false stories.
"With International Fight Week and the historic UFC 200 rapidly approaching, we look forward to once again delivering a series of events that our fans won't soon forget. We appreciate your hard work, diligence and commitment, and thank you for your focus as we continue to take the sport to new heights."
Source: Flo Combat