According to a report by ESPN, the UFC is in advanced talked to have new owners.
The report states that four bidders have submitted bids for the organization, which Lorenzo and Frank Fertitta hold majority stake in. The two brothers, along with Dana White and Flash Entertainment are joint owners.
“As a private company, we don’t discuss speculation or rumors related to our business,” UFC vice president of public relations Dave Sholler said.
Chinese-based Dalian Wanda Group is believed to be the leader with a bid between $3.5-4 billion. Chariman Wang Jianlin is the richest man in China, worth nearly $35 billion.
Last year, Wanda bought 20-percent of soccer power Atletic Madrid and is a FIFA partner. They also are owners of Legendary Entertainment, a major Hollywood film studio.
Along with Wanda, WME/IMG, The Blackstone Group and China Media Capital are believed to be the other bidders.
The UFC was founded in 1993 by Art Davie, Campbell McLaren, Rorion Gracie and Bob Meyrowitz. In 2001, the Fertittas bought the UFC for $2 million and created Zuffa, LLC, which has controlled the promotion since.
Under the guidance of the Fertittas and White, the promotion has grown into a major force. They have purchased several other MMA promotions along the way and continue to build UFC Fight Pass as an all-digital service.