Zuffa Sells The UFC For $4 Billion After Acquiring It For Only $2 Million In 2001

LOS ANGELES (AP) — The UFC has been sold for approximately $4 billion to a group led by Hollywood talent agency WME-IMG.

UFC President Dana White confirmed the sale of the mixed martial arts promotional company in text messages to The Associated Press on Sunday night. Dana White will remain UFC President following it's $4 billion sale. WME co-CEO Ari Emanuel also announced the sale early Monday in an internal company email that included SNTV — a joint venture between The Associated Press and IMG

Ari Emanuel

"We've been honored to have UFC and a number of its athletes as clients and couldn't be happier to take our relationship to this next level as the organization's owner and operating partner," Emanuel said.

White will stay on to run the UFC, which has grown from a money-losing promotion in a minor sport into a global entertainment brand. UFC owners Lorenzo and Frank Fertitta have tapped out of the company after nearly 16 years, although they'll retain a minority interest. The Abu Dhabi government still owns 10 percent of the UFC as well.

The New York Times first reported the completion of the long-rumored deal. It has financial backing from private equity firms Silver Lake Partners, which owns WME-IMG, and Kohlberg Kravis Roberts, along with the investment firm of billionaire Michael Dell, founder of Dell Computers.

"UFC has experienced tremendous growth over the last decade and we are looking forward to helping the organization and its athletes identify new opportunities to develop and further establish their global footprint," Emanuel said.

The UFC was founded in 1993 as the Ultimate Fighting Championship, staging violent fights that were banned or unregulated in many areas. The Fertitta brothers and White, their high school friend, purchased the promotion for $2 million in 2001.

After helping Chuck Liddell, Randy Couture and Tito Ortiz become stars who straddled the line between sports and entertainment, the promotion now boasts a stable of elite athletes with mainstream fame, including Conor McGregor, Brock Lesnar and Ronda Rousey, who is represented by WME.