UFC settles in antitrust lawsuits, will pay out $335 million
The UFC has reached a settlement agreement for two separate antitrust lawsuits that will pay out a disclosed $335 million.
TKO Group Holdings, the parent company to the UFC, filed a disclosure with the Securities and Exchange Commission revealing that the organization had settled in both suits on Wednesday.
“On March 13, 2024, TKO reached an agreement to settle all claims asserted in both class action lawsuits ([Cung] Le and [Kajan] Johnson) for an aggregate amount of $335 million payable by the Company and its subsidiaries in installments over an agreed-upon period of time. The terms will be memorialized in a long form agreement and then submitted to the court for approval.
“The Company anticipates that the settlement amount will be deductible for tax purposes.”
The plaintiffs were seeking damages between $894 million and $1.6 billion stating that UFC engaged “in a scheme to acquire and maintain monopsony power in the market for elite professional MMA fighter services.”
If Judge Richard Boulware signs the settlement agreement, the case will not going to trial.
