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Former UFC owners Frank, and Lorenzo Fertitta are in the middle of litigation alleging unfair labor practices surrounding their Las Vegas Casino business enterprise. As revealed in a report from The Daily Beast, the pair of Fertitta brothers are set to…
Former UFC owners Frank, and Lorenzo Fertitta are in the middle of litigation alleging unfair labor practices surrounding their Las Vegas Casino business enterprise. As revealed in a report from The Daily Beast, the pair of Fertitta brothers are set to appear and speak with a National Labor Relations Board judge. The Fertitta brothers have […]
Continue Reading Fertitta Brothers Subpoenaed Over Alleged Unfair Labor Practices at MMA News.
Leave it to Frank Shamrock to publicly say what many may be thinking about the Ultimate Fighting Championship (UFC). The outspoke former UFC light heavyweight champion, who has a well-documented spat with UFC brass dating back many years, recently sized up the promotion’s sale and how the new owners have been doing during what can only
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Leave it to Frank Shamrock to publicly say what many may be thinking about the Ultimate Fighting Championship (UFC).
The outspoke former UFC light heavyweight champion, who has a well-documented spat with UFC brass dating back many years, recently sized up the promotion’s sale and how the new owners have been doing during what can only now be described as a horrific start to 2017 in an interview with Submission Radio (via MMA Mania), and things weren’t so optimistic.
According to Shamrock, the UFC finally needs to treat their fighters better after WME’s massive $4.2 billion purchase of the UFC last summer shed a ton of exposure on what the company was worth – and how that compared to what fighters make:
“You gotta change the way they treat these athletes. We gotta change the value that is given. Make it more fair. I think the way the old regime was set up, most of that money flowed to the top and all the executives got paid big, but these guys that really sacrificed, they didn’t get much and now they’re starting to speak about it.”
Shamrock went on to detail his opinion that previous owners Lorenzo and Frank Fertitta got out of the sport at just the right time, as a whole host of various regulatory statutes could potentially change the way the promotion does business. He believes the UFC brand is at the end of their lifecycle unless they make some all-out changes to the oppressive way they treat their athletes:
“Hundred percent. You know, the discord is coming, the regulation is coming, the government oversight is coming,” he said. “So yeah, that’s the time to get out. The brand’s had a great run, it’s built up. The girl’s beautiful globally, no one knows what it’s really like. Perfect time to get out. I mean, I applaud their business. They’re great business men. I knew they would be super successful with it, but at the same time, I want to be respected at work, I want to be cared for, I want my values to be acknowledged.”
“I mean, from a business perspective if I was looking at the lifecycle of a brand, we’re winding this brand down unless drastic changes happen. And only because they had a very oppressive, very results-oriented culture that wasn’t concerned about fighters and their rights and the chi and everything else, and now that community has pushed back. So they’re not performing, they’re not sacrificing, you know, they want to be paid first. And that’s great, but you need a very active and vibrant and risk-taking culture to keep this type of growth going, and I think that part is stagnant.”
The MMA legend then offered his stance that the UFC needs to go back to fostering the spirit of martial arts by creating a clear path to a UFC title, something that is tough to achieve in today’s uncertain MMA landscape:
“We need to find a way to reactivate how that martial spirit and that Rocky-esque dream, and it seems like it’s convoluted or smoke and mirrors now. There’s no real path, you know, to go from my martial arts school to my UFC championship, and I think that’s where they’ve lost the way.”
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News officially broke early this morning that Zuffa has sold the UFC to WME-IMG and MSD, for the largest sale in the history of sports with a sale price of $4 Billion. Amongst the madness the Zuffa executive team has taken the time to send the following e-mail, courtesy of MMA Fighting, to it’s athletes regarding the
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News officially broke early this morning that Zuffa has sold the UFC to WME-IMG and MSD, for the largest sale in the history of sports with a sale price of $4 Billion.
Amongst the madness the Zuffa executive team has taken the time to send the following e-mail, courtesy of MMA Fighting, to it’s athletes regarding the UFC sale.
Some key points in the email include the UFC’s new owners, the Fertittas retaining a minority ownership interest, UFC President Dana White remaining on staff in the same capacity, and much more:
Dear Athletes,
We are writing to personally advise you of a change to UFC. Renowned entertainment, sports and fashion giant WWE | IMG has entered into agreement to acquire UFC. Silver Lake Partners, KKR, MSD Capital, L.P. and MSD Partners, L.P. will join WME | IMG as new strategic investors. The transaction is subject to customary conditions.
From the moment Zuffa, LLC purchased UFC over 15 years ago, you, the athletes, have always been the central focus of the promotion. That will not change. WME | IMG, who has been involved with UFC for many years, is focused on the continued global expansion of mixed martial arts and committed to further promotion you on the global stage.
Upon closing the deal, Lorenzo Fertitta will be stepping down as Chairman and CEO of the organization, however Lorenzo and Frank will retain a minority ownership interest in the business. UFC President Dana White will continue in his role and will also retain a minority ownership interest.
The organization’s leadership, a team of great executives hand-picked to help lead the business, will remain in place to carry on their work and continue to lead the team of dedicated employees who promote your careers as mixed martial arts athletes.
You remain a very important part of the highly driven, dedicated and motivated organization that will continue to deliver world-class experiences and opportunities for you as athletes and for the greatest fans in the world.
Thank you,
The Zuffa executive team
What are your thoughts on the UFC’s new owners, do you expect immediate change?
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The Ultimate Fighting Championship (UFC) is by far and large the biggest promoter of the rapidly expanding sport of mixed martial arts (MMA) today, and according to FloSports’ Jeremy Botter, the sport was about to change when the MMA powerhouse finalized a deal to be sold to the WME talent, agency, a Chinese media organiztion, and
The post UFC Reportedly ‘Not Even Close’ To Being Sold appeared first on LowKick MMA.
The Ultimate Fighting Championship (UFC) is by far and large the biggest promoter of the rapidly expanding sport of mixed martial arts (MMA) today, and according to FloSports’ Jeremy Botter, the sport was about to change when the MMA powerhouse finalized a deal to be sold to the WME talent, agency, a Chinese media organiztion, and a group lead by New England Patriots owner Robert Kraft for the hefty price tag of $4.2 billion.
But if what sources close to the situation are reporting, that information is just simply not correct. According to a recent report from TMZ Sports, negotiations for the UFC to be sold are ongoing; but a deal ‘isn’t even close’ to being done to sell the company.
Contrary to Botter’s reports, it has yet to be determined if 100% ownership will be granted to the winning bidder and a price has yet to be successfully negotiated.
Botter also reported that a deal had been finalized between WME CEO Ari Emanuel, UFC CEO Lorenzo Fertitta, along with other UFC executives in a Hollywood dinner meeting on Sunday night. It was later discovered that Emanuel was not even in the country at the time of the supposed ‘dinner meeting’, and Fertitta, along with UFC President Dana White and Frank Fertitta, were all in Las Vegas the entire day.
So for now at least, the UFC is safe in the wealthy hands of the Fertitta family, and a deal to sell the promotion is far at bay for the time being.
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It’s been no secret that negotiations have been progressing to sell the Ultimate Fighting Championship (UFC) as of late, which is currently owned by a pair of billionaire brothers in Lorenzo and Frank Fertitta. According to a report via ESPN, the UFC is currently eyeing two offers in the $4.1 billion range between WME-IMG and China Media
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It’s been no secret that negotiations have been progressing to sell the Ultimate Fighting Championship (UFC) as of late, which is currently owned by a pair of billionaire brothers in Lorenzo and Frank Fertitta.
According to a report via ESPN, the UFC is currently eyeing two offers in the $4.1 billion range between WME-IMG and China Media Capital.
Both bids are currently in the process of being financed, and according to CBS Boston, one man contributing to the WME-IMG’s bid is none other than National Football League (NFL) New England Patriots team owner Robert Kraft.
WME-IMG has reportedly asked investors to contribute anywhere from $25 million to $50 million for a 1% piece of the ownership pie, and Kraft seems to be interested.
The New England Patriots have won a total of four Super Bowls in the team’s career while under Kraft’s ownership, most recently taking home the Lombardy Trophy in 2014’s Super Bowl XLIX in Glendale, Arizona.
Although the winning bidder would completely buyout the company from the Fertittas, both bidders have reportedly expressed interest in retaining UFC President Dana White to the payroll.
Stick with LowKick for the latest on the UFC’s current bid war for the franchise, and Dana White’s future with the promotion…
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According to UFC President Dana White, it’s only a matter of time before UFC owners Lorenzo Fertitta and Frank Fertitta buy an NFL franchise.
White addressed the rumors about the Fertitta brothers buying the Oakland Raiders and moving the team to La…
According to UFC President Dana White, it’s only a matter of time before UFC owners Lorenzo Fertitta and Frank Fertitta buy an NFL franchise.
White addressed the rumors about the Fertitta brothers buying the Oakland Raiders and moving the team to Las Vegas, Nevada, during his appearance on “The Jim Rome Show.”
“Here’s the thing — as you know you can’t own an NFL team if you’re involved with casinos. So if they were really making a serious move at the Raiders, they’d be selling Station Casinos not the UFC,” White said on Friday.
White continued, “But it is 100-percent a fact, they are hardcore football fans and I promise you one day the Fertitta brothers will own an NFL team. No doubt about it.”
H/T to FOXSports.com for transcribing the above Dana White quote.