Cape Town - The UFC has been sold.
The mixed martial arts promotion officially announced the sale on Monday to the WME-IMG group. While the exact price tag was not disclosed the reported figure is somewhere In the region of $4 billion.
So what does this actually mean? Well it's pretty simple.
The Fertitta brothers who purchased the UFC back in 2001 for $2 million will retain a "passive minority interest" in the company. Lorenzo Fertitta will step down from day-to-day operations. Dana White will remain president of the promotion, where he will continue to be a promoter and part owner.
As for the roster of fighters and staff members in the background it should be business as usual. The UFC is a hot product at the moment so there is no reason to fix something that isn't necessarily broken.
"No other sport compares to UFC," said White in the statement. "Our goal has always been to put on the biggest and the best fights for our fans, and to make this the biggest sport in the world. I’m looking forward to working with WME | IMG to continue to take this sport to the next level."
Further details of who may or may not be staying with the company after its acquisition may become available in the next couple of weeks but the changes, if any, would most likely be very small.