Tag: Lorenzo Fertitta

BREAKING: Zuffa Officially Sales UFC For $4 Billion Price Tag, Dana White’s Status Revealed

According to Sports Director Chris Maathuis of KLAS-TV (CBS), Zuffa has officially sold the UFC to WME-IMG and MSD capital for a hefty $4 Billion price tag making it the largest sale in sports history: Largest sale in history of sports. #UFC sold for 4 billion to WME-IMG and MSD capital. Fertittas and White small % pic.twitter.com/b7Fj0ZXs4x

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According to Sports Director Chris Maathuis of KLAS-TV (CBS), Zuffa has officially sold the UFC to WME-IMG and MSD capital for a hefty $4 Billion price tag making it the largest sale in sports history:

ESPN’s Bret Okamoto also reported that current UFC President Dana White will remain with the UFC in his same role:

Much speculation had been made about weather or not the sale was actually true, as rumors had swarmed throughout the media that a sale was nothing more than a rumor.

White also very openly denied the rumors when confronted about them, the UFC even went as far as issuing a memo to it’s employees that a sale of the company should be the least of they’re worries.

The UFC just wrapped up it’s biggest week in company history, as it’s International Fight Week has concluded after last night’s (July 9, 2016) massive UFC 200 event that had it’s fair share of misfortunes leading up to the event.

CBS channel 8 news will reportedly have exclusive interviews with Lorenzo Fertitta and White later this morning.

Stay tuned in with LowKick for all the latest news on the UFC sale, including statements from Fertitta and White themselves

 

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In The Midst Of UFC Sale Rumors, Lorzeno Fertitta Has A New Job

Well, the rumors regarding the potential sale of the UFC, the world’s largest mixed martial arts promotion, may have just became a bit more interesting. Flocombat’s Jeremy Botter had previously reported that the deal was done, although a report from TMZ yesterday (June 22, 2016) said that the deal was ‘not even close’. Despite the

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Well, the rumors regarding the potential sale of the UFC, the world’s largest mixed martial arts promotion, may have just became a bit more interesting. Flocombat’s Jeremy Botter had previously reported that the deal was done, although a report from TMZ yesterday (June 22, 2016) said that the deal was ‘not even close’.

Despite the whirlwind of rumors and massive speculation, it appears as if UFC CEO Lorenzo Fertitta is looking to get out of the MMA industry. Fertitta, along with his brother Frank, has long been an owner of casinos, and he recently took a position as the Vice President of Red Rock.

Check out the details of the lengthy and lucrative deal below (Via PR Newswire):

Lorenzo Fertitta, chairman and chief executive officer of Zuffa since June 2008,[ii] entered into a five-year new employment agreement with Red Rock, with an annual salary of $500,000, in connection with the latter’s IPO in April. [iii] He is currently a Vice President of Red Rock, according to an SC13D filing by the company on May 12, in addition being a member of its board of directors.[iv] Also, Stations Casinos and Fertitta Entertainment agreed in October, 2015, to help Fertitta Entertainment employees move money they have in Zuffa 401(k)’s out of that plan and into a new one.[v]

Bleacher Report’s Mike Chiappetta also touched on the situation via his official Twitter account, saying that Fertitta stepped down from his position from Stations Casino in 2008 because it was tough to manage his UFC duties ‘part-time’:

Could Fertitta have more time on his hands these days because he recently sold his multi-billion dollar promotion?

Only time will tell.

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Report: Lorenzo Fertitta Takes New Job With Red Rock Resorts, Inc.

It looks like current UFC co-owner Lorenzo Fertitta will soon have a new gig.

It was reported this week that Fertitta, a current majority owner of the UFC, has accepted a new $500,000 per year job with Red Rock, the timing of which will no doubt fue…

lorenzo-fertitta

It looks like current UFC co-owner Lorenzo Fertitta will soon have a new gig.

It was reported this week that Fertitta, a current majority owner of the UFC, has accepted a new $500,000 per year job with Red Rock, the timing of which will no doubt fuel the speculation regarding rumors of a potential multi-billion dollar sale of the UFC.

Below is an excerpt from the PR Newswire regarding Fertitta’s new job.

Lorenzo Fertitta, chairman and chief executive officer of Zuffa since June 2008,[ii] entered into a five-year new employment agreement with Red Rock, with an annual salary of $500,000, in connection with the latter’s IPO in April. [iii] He is currently a Vice President of Red Rock, according to an SC13D filing by the company on May 12, in addition being a member of its board of directors.[iv] Also, Stations Casinos and Fertitta Entertainment agreed in October, 2015, to help Fertitta Entertainment employees move money they have in Zuffa 401(k)’s out of that plan and into a new one.[v]

Let the UFC sale rumors continue running rampant. Of course, it’s worth noting that some outlets are reporting the direct opposite regarding a potential UFC sale. Oh yeah, and the UFC themselves aren’t exactly confirming any reports at this point, either.

Report: UFC Sale Finalized With $4.2 Billion Bid

It sounds like the UFC will be under new ownership soon. A report has arrived from The Score MMA this afternoon (Mon., June 20, 2016) that the UFC has apparently accepted a $4.2 billion bid from one potential buyer among the group of reported bidders William Morris Endeavor-IMG, Chinese conglomerate Dalian Wanda, The Kraft Group, and

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It sounds like the UFC will be under new ownership soon.

A report has arrived from The Score MMA this afternoon (Mon., June 20, 2016) that the UFC has apparently accepted a $4.2 billion bid from one potential buyer among the group of reported bidders William Morris Endeavor-IMG, Chinese conglomerate Dalian Wanda, The Kraft Group, and Chinese investment company Tencent Holdings Limited.

Bids had come in the reported neighborhood of $4 billion, and it was announced that official bids were to be opened by the company very soon. Apparently those bids were opened, and a $4.2 billion number by an undisclosed buyer was accepted:

Talks about the UFC being sold have heated up lately, and it appears those talks have been fruitful despite UFC President Dana White stating that the promotion was ‘not for sale.’

Now, with the Ali Act potentially making overarching impacts on fighter pay, their biggest star in Ronda Rousey uncertain to return, and the Reebok sponsorship deal earning seemingly never-ending criticism for taking fighters’ sponsorship money, now may be the perfect time for the Fertitta brothers to get out.

It appears they’re doing just that. Stay tuned to LowKick for any and all updates on the game-changing sale.

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New England Patriots Owner Reportedly Involved In UFC Bidding

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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Rumor: UFC Could Be Sold Today In $4 Billion Range

The talk about Zuffa LLC selling the UFC has been brewing in the MMA community for quite awhile now, and it’s also taken a step up in recent weeks. Now, however, reports have surfaced from MMA Fighting’s Dave Meltzer that the UFC may be sold as soon as today (June 16, 2016), with the price

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The talk about Zuffa LLC selling the UFC has been brewing in the MMA community for quite awhile now, and it’s also taken a step up in recent weeks.

Now, however, reports have surfaced from MMA Fighting’s Dave Meltzer that the UFC may be sold as soon as today (June 16, 2016), with the price reportedly targeted at or around $4 billion for complete ownership of the company:

“The bidding period is expected to end this week, on or around 6/16, regarding a sale that is expected to be in the $4 billion price range for 100 percent ownership of the UFC.”

Three potential buyers are in the running for the MMA frontrunner, with William Morris Endeavor/IMG, China Media Capital, and the Dalian Wanda Group being named the candidates. White has vehemently denied that the UFC is for sale in the media as always, but did note that they were “fielding offers.”

White owns 9% of the company himself, the Fertittas own 81%, and the remaining 10% is owned by a third party investor. If and when the UFC is sold, it’s hard to imagine the company being run without White as the public face, but there is a distinct possibility that both White and the Fertittas would relinquish their heavily involved roles with the company if it were sold.

Meltzer did reveal that the bidders may want White to stay on as head man, possibly even while keeping some of his ownership stake.

The UFC recently enlisted financial giant Goldman Sachs to assist with a potential sale, signifying that they were serious about unloading the world’s name brand for MMA. Nothing is official as of now, but the company’s recent signing of former heavyweight champion Brock Lesnar to compete at UFC 200 could certainly be a play to bolster numbers, which have been soaring since a down 2014, up for the potential sale.

The UFC could also reject any or all bids and retain ownership, so it appears today and the next few days could be a critical negotiating period for the future direction of the company.

Either way, the UFC and obviously MMA as a whole is going to change in a big way if the UFC does accept one of the supposedly forthcoming bids and decide to sell. We’ll keep you updated on any developments as they arise.

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