Fertitta’s are done with the UFC
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.