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UFC Nearing Sale To Chinese Group For 4 billion

UFC Nearing Sale To Chinese Group For 4 billion

 

 

The biggest mixed martial arts organization in the world may be very close to being sold. According to ESPN sources the lucrative franchise has two offers for purchase just over 14 billion dollars.

The details on the buyers have also leaked, the proposals have come from WME-IMG in partnership with Dalian Wanda Group and China Media Capital. Another interesting detail – it would be sold as a whole. It is currently owned by the Fertita brothers with Dana White and Abu Dhabi government owning smaller parts.

Co-chair of WME Ari Emanuel has been asking well heeled investors to pitch in from 25 do 50 million dollars. WME-IMG includes China’s Tencent holdings which is one of the 10 largest internet companies in the world and ESPN’s official partner in the region.

Currently both groups are trying to completely finance the purchase, as the report states. In addition ESPN reported that one of the potential investors in WME-IMG, Kraft Group  already owns New England Patriots (NFL).

It’s speculated that Dana White’s friend Robert Kraft is interested in financing the deals but no public statement has been made yet.

This time Dana White had no comment but he told just last month that the UFC would not be sold, stating that the franchise is seeking an expansion.

We are in the middle of negotiations, of course, all that is involved is treated confidentially. At the moment, we really want is to expand. We are doing work to develop further growth of the company, as the way for territories such as China, Japan and Korea. So, yes, we are always working on business. I’ve said it a million times, we have offers in the UFC all the time. it all started in 2010 when we received the first offer from a company,

Later he exchanged texts with a flosports journalist:

 

There’s another aspect to the story – hollywood powerhouse agent Ari Emanuel is one of the co-chairs of a group WME-IMG. If you haven’t heard about him before it would serve you to know he’s the man that inspired famous satiric rants of Ari Gold, fictional Hollywood agent from “Entourage”. Ari’s brother, Rahm Emanuel was also Obama’s Chief of Staff.

One way or another an announcement isn’t expected until after UFC 200 if the bid is accepted which many claim it will be.