The Ultimate Fighting Championship, which Station Casinos’ Fertitta brothers took from a fringe company when described by John McCain as ‘human cockfighting,’ up to a global sports empire, happens to be sold by the brothers for $4 billion.
The championships new owner is US skill agency WME-IMG, which includes been backed into the deal by private equity groups Silver Lake and KKR, because well as the family investment workplace of Michael Dell, founder of Dell computers.
The Fertittas, who can retain passive minority stakes in the organization, paid just $2 million for the brand and its assets in 2001, at a low point for the championships.
Learning to be a Heavyweight
UFC was dogged by accusations of brutality and vilified by politicians during the time, not least of that has been U.S. that is senior Senator McCain from Arizona, whom helped persuade 36 states to ban ‘no-holds-barred fighting’ and pay per view companies to remove it from their schedules.
It was banned in New York just before UFC 12 was due to start up, forcing organizers to find a new venue, in Alabama. New York only lifted that ban previously this year.
But under the Fertittas’ stewardship, UFC gained a new degree of respectability as promoters worked with state athletics commissions to impose new rules that curbed a number of its previous excesses, let Continue reading