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Fertitta’s are done with the UFC

Lorenzo and Frank Fertitta – The two brothers, who along with Dana White were key in saving the UFC from ruin, have officially parted with the company.

The two brothers have sold off the last of their shares in the premier MMA promotion to WME-IMG. WME purchased the UFC last year for $4 billion, this comes after 16 years of hard work and dedication by the two brothers.

The Fertitta’s purchased the UFC back in 2001 for $2 million against the advice of their father and many business partners, after several rough years of business they were $2 billion out of pocket and was very close to closing up for good, when they had a change of mind and created The Ultimate Fighter for fledgeling cable channel SpikeTV – The rest, as they say, is history.

As part of the $4 billion sale to WME-IMG, the Fertittas held a 5.8% stake in the company, it is being said that they have now sold that stake back to WME-IMG for roughly a 26% premium according to Forbes.

The Fertitta’s who are worth an estimated $2 billion are now dedicating themselves to Station Casinos where they first made their mark on Las Vegas, and their investment firm Fertitta Capital.

The sale of the UFC to WME-IMG is now worth $5 billion, which was one of the largest in sports history, recently surpassed by the $8 billion sale of Formula One to Liberty Media in January of this year.

What do you think of the departure of the Fertittas? Sound off in the comments below.

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