CMC and Wanda bid $4.1 Billion for UFC

According to several reports, the Ultimate Fighting Championship (UFC) is on the verge of being sold for around $4.1 billion.

Winning the bidding means owning the entire UFC. The highest bidders are China Media Capital (CMC) and a combination of Dalian Wanda Group and WME-IMG. Both of them are seeking financial backing from potential investors.

WME Co-Chairman, Ari Emanuel, said that his company is seeking $25 million to $50 million contributions from investors. It is said that the Kraft Group, owner of the New England Patriots and Chinese internet company Tencent have shown their interest.

On May 10, an ESPN report said that the UFC was in discussions to sell and four bidders had emerged. The UFC is owned primarily by casino billionaires Lorenzo and Frank Fertitta. White and Flash Entertainment, a subsidiary of the Abu Dhabi government, also own a percentage.

Source: detroitsportssite & legaluspokersites

Proofread by Sean O Diobhilin