Lorenzo Fertitta
Report: UFC To Be Sold To Chinese Company For $4 Billion
Report: UFC To Be Sold To Chinese Company For $4 Billion
According to a report released by ESPN, four companies have emerged as the top bidders currently in talks with the Ferttita Brothers, Frank and Lorenzo, for the purchase of the Ultimate Fighting Championship (UFC).
WME/IMG, China Media Capital, The Blackstone Group and Dalian Wanda Group are the four companies currently in the running for the purchase which is reportedly estimated to fall somewhere between $3.5 and $4 billion.
Dalian Wanda Group is apparently the frontrunner for the sale. Wang Jianlin, the owner, has been referred to as the richest person in Asia with a net worth of $28.7 billion.
To put this $4 billion sale into perspective at how undervalued some feel this purchase will be, Facebook purchased the app, Instagram for $1 billion in 2012.
The Fertittas purchased the UFC for $2 million in 2001, forming Zuffa LLC. In 2015, the UFC profited nearly $600 million. Flash Entertainment, a subsidiary of the Abu Dhabi government, and UFC President Dana White are minority owners on the current deal.
