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Wanda’s UFC deal finalized?

Wednesday, 22 Jun 2016 14:30   |   By Chen Yaping

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UFC President Dana White

It is rumoured that the $4.2billion sale of Ultimate Fighting Championship (UFC) is “done”. According to a report by FloCombat.com, it does not mean the company is officially sold but there is “a strong likelihood that the sale will be completed shortly.”

According to earlier reports, the winner is said to be a consortium comprising WME-IMG, the Dalian Wanda Group, The Kraft Group and Tencent Holdings. China Media Capital (CMC), the rumoured opposing group, fell well short of the asking price.

UFC President Dana White is expected to remain in situ following the sale, while UFC CEO Lorenzo Fertitta would relinquish his role with the organization.

However, UFC representatives have repeatedly denied claims that the mixed martial arts organization was for sale.

“FloCombat.com's report indicating that the UFC has been sold is false,” a UFC spokesperson said, “We've communicated that to our staff members via an internal memo.”

Source: mirror.co.uk

Proofread by Sean O Diobhilin

Tags: WME | IMG,investment,Tencent,Wanda Group

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