Tag: Lorenzo Fertitta

UFC Sale Complete: Fertitta Has Last Day, Copy Of Letter Sent To Fighters

wme-img-new-ufc-owners

The sale of the UFC from Zuffa to the new owners at WME/IMG is now officially complete, as longtime UFC CEO Lorenzo Fertitta had his final day in the office on Wednesday.

It was revealed in a letter sent to fighters regarding the sale being complete that tonight’s UFC 202: Diaz vs. McGregor show will be the first to be held under the new owners’ regime.

As noted, WME/IMG purchased full ownership of the UFC for the reported sum of $4 billion.

Below is a copy of the letter, which was released by MMAFighting.com:

Our team’s been honored to represent UFC and work with a number of you on the entertainment side for the past few years. We’ve had a front row seat as both a partner and as a fan to witness your dedication to this sport and UFC’s remarkable work in growing MMA’s popularity and elevating the organization on a global scale.

We couldn’t be more excited for what the future holds for UFC and for all of you. As UFC’s new operating partner, we will be working with Dana and the UFC team to amplify the work that’s already been done by mobilizing all of the sports and entertainment assets we have available to us in our international network.

We look forward to working with you and welcome any ideas and feedback as we begin this new chapter together.

Ari Emmanuel & Patrick Whitesell, Co-CEOs, WME/IMG.

wme-img-new-ufc-owners

The sale of the UFC from Zuffa to the new owners at WME/IMG is now officially complete, as longtime UFC CEO Lorenzo Fertitta had his final day in the office on Wednesday.

It was revealed in a letter sent to fighters regarding the sale being complete that tonight’s UFC 202: Diaz vs. McGregor show will be the first to be held under the new owners’ regime.

As noted, WME/IMG purchased full ownership of the UFC for the reported sum of $4 billion.

Below is a copy of the letter, which was released by MMAFighting.com:

Our team’s been honored to represent UFC and work with a number of you on the entertainment side for the past few years. We’ve had a front row seat as both a partner and as a fan to witness your dedication to this sport and UFC’s remarkable work in growing MMA’s popularity and elevating the organization on a global scale.

We couldn’t be more excited for what the future holds for UFC and for all of you. As UFC’s new operating partner, we will be working with Dana and the UFC team to amplify the work that’s already been done by mobilizing all of the sports and entertainment assets we have available to us in our international network.

We look forward to working with you and welcome any ideas and feedback as we begin this new chapter together.

Ari Emmanuel & Patrick Whitesell, Co-CEOs, WME/IMG.

Dana White Signs New Five Year Contract

When it was confirmed earlier this week that the UFC had indeed been purchased for a record setting $4 billion by WME-IMG, it was also reported that UFC President Dana White would keep his position while UFC CEO Lorenzo Fertitta would be stepping down from his day to day responsibilities. Not only will White be

The post Dana White Signs New Five Year Contract appeared first on LowKick MMA.

When it was confirmed earlier this week that the UFC had indeed been purchased for a record setting $4 billion by WME-IMG, it was also reported that UFC President Dana White would keep his position while UFC CEO Lorenzo Fertitta would be stepping down from his day to day responsibilities. Not only will White be remaining on board, but he has also received a new and lucrative contract in order to do so.

According to a report from ESPN’s Darren Rovell, White’s new contract is a five year deal that includes him earning nine percent of the company’s future net profits. The UFC boss had previously owned approximately nine percent of the company meaning he’ll receive a hefty $360 million from the promotion’s sale. The report also indicated that it’s currently unknown whether or not White will continue to own a percentage of the world’s largest mixed martial arts organization.

As for what the future now holds for White in terms of his financial earnings, Rovell claimed that based off of an estimated $200 million yearly net profit for the UFC, White could earn roughly $18 million a year. That number would also increase as the UFC’s profits increase which of course is the ultimate goal.

After purchasing the UFC in 2001 for $2 million, White along with the Fertitta brothers have essentially built the sport of mixed martial arts from the ground up. The trio deserves a tremendous amount of credit for all they’ve done, and White’s new contract displays his value to the sport.

The post Dana White Signs New Five Year Contract appeared first on LowKick MMA.

UFC 200 Sale: UFC Fighters Provide A Variety Of Different Reactions To The Big News

As the news of the UFC sale to new owners WME | IMG becomes a public story, some of the more well-known faces and fighters are starting to comment on the situation.

As reported earlier this afternoon, UFC Featherweight Champion Conor McGregor was on…

dana-white-fertittas-ufc-3

As the news of the UFC sale to new owners WME | IMG becomes a public story, some of the more well-known faces and fighters are starting to comment on the situation.

As reported earlier this afternoon, UFC Featherweight Champion Conor McGregor was one of the first fighters to react to the news after it became clear that the sale had in fact gone through. Additionally, Joe Lauzon released the actual mass email that was sent to the entire active UFC roster of fighters informing them about the UFC sale.

Dana White will remain with the company under the new ownership in basically the same role he has been in for years, as UFC President, and Lorenzo Fertitta and Frank Fertitta III will continue to own a minority stake in the company.

In addition to McGregor, several other UFC and non-UFC fighters and personalities from the MMA world have taken to social media to comment on the story. Below are some of the tweets related to the news of the UFC sale.

Ronda Rousey Likely To Remain With WME-IMG After UFC Purchase

With this morning’s (Mon., July 11, 2016) breaking news that the UFC had been purchased for a record $4 billion, countless unknowns arose regarding the direction of the world’s biggest MMA promotion. Apparently a question regarding former women’s bantamweight champion Ronda Rousey won’t be one of them, however. When the UFC was bought by William Morris Endeavor

The post Ronda Rousey Likely To Remain With WME-IMG After UFC Purchase appeared first on LowKick MMA.

With this morning’s (Mon., July 11, 2016) breaking news that the UFC had been purchased for a record $4 billion, countless unknowns arose regarding the direction of the world’s biggest MMA promotion.

Apparently a question regarding former women’s bantamweight champion Ronda Rousey won’t be one of them, however.

When the UFC was bought by William Morris Endeavor and their investors – a group called WME-IMG – a peculiar situation arose given that Rousey is represented by the WME-IMG talent agency. It may have seemed that created a stark conflict of interest involving her fighting, but Rousey will reportedly stay with the group because WME-IMG never negotiated her actual fights with the UFC.

ESPN’s Darren Rovell was the first to clarify the details:

Rousey famously made a whirlwind run to the lofty position of the UFC’s (and MMA’s overall, for that matter) biggest-ever crossover star from 2013-2015, defending her title a record six straight times with all coming by way of finish.

But that hype train came crashing to a halt at last year’s UFC 193, where Rousey lost to now-former champion Holly Holm via brutal head kick following a one-sided striking display from “The Preacher’s Daughter,” who boasted an extensive striking resume as a former champion boxer.

Rousey has since gone into a self-imposed seclusion of sorts, appearing rarely in public as her fighting future remains highly unknown. After recently undergoing a minor arthroscopic procedure on her knee, Dana White has hinted that Rousey may not return to the octagon until 2017.

He also stated that “Rowdy” will fight the champion, who is now Amanda Nunes after she beat Miesha Tate, who beat Holm at UFC 196, in the main event of UFC 200. If and when she does, her status with WME-IMG won’t be an issue.

Now it’s just a matter of getting arguably the new company’s biggest star to find her passion for fighting again.

The post Ronda Rousey Likely To Remain With WME-IMG After UFC Purchase appeared first on LowKick MMA.

Dana White Reacts To UFC Sale

Rumors regarding the potential sale of the world’s largest mixed martial arts promotion have been swirling for months now with UFC President Dana White constantly denying the reports. Today (July 11, 2016), however, the official announcement has come, as the UFC has indeed been sold for $4 billion dollars to an investment group led by

The post Dana White Reacts To UFC Sale appeared first on LowKick MMA.

Rumors regarding the potential sale of the world’s largest mixed martial arts promotion have been swirling for months now with UFC President Dana White constantly denying the reports. Today (July 11, 2016), however, the official announcement has come, as the UFC has indeed been sold for $4 billion dollars to an investment group led by WME-IMG.

While CEO Lorenzo Fertitta will be taking a step down from his day to day responsibilities, White will be staying on in his role as President. Check out what the UFC boss had to say about the sale below:

 “Exact opposite,” White told ESPN in regards to fans being worried about the changing of the guard. “Sport is going to the next level.”

“No other sport compares to UFC,” White said in today’s release (Via MMAMania). “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.”

The UFC has built the sport of mixed martial arts into a main stream attraction throughout its 23 year history, and much of the credit for doing so should be handed to White and the Fertitta brothers. As far as immediate changes to the promotion, it’s currently unclear what plans the new owners have in mind.

Stay tuned to LowKickMMA as more news unfolds on this breaking story.

The post Dana White Reacts To UFC Sale appeared first on LowKick MMA.

Zuffa E-Mails Fighters Regarding Sale Of UFC

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

The post Zuffa E-Mails Fighters Regarding Sale Of UFC appeared first on LowKick MMA.

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?

The post Zuffa E-Mails Fighters Regarding Sale Of UFC appeared first on LowKick MMA.