UFC sold in 'biggest deal in history of US sports'
Mixed Martial Arts powerhouse UFC has been sold for a staggering US $4 billion.
News of the sale broke on Monday afternoon. It is being hailed as the single biggest deal in the history of US sports.
😃
— Dana White (@danawhite) July 11, 2016
UFC president Dana White took to Twitter with a single emoji shortly after the deal was revealed.
The sale comes just a day after the UFC milestone UFC 200 pay per view event, which saw former heavyweight champion and WWE star down 'Samoan Superman' Mark Hunt in the marquee fight.
Rumours of a sale have persisted for weeks although White and potential buyers have played down the reports.
White, who owns a percentage of the promotion is expected to stay on but in a smaller role.
Chief executive officer Lorenzo Fertitta, who bought in with his brother for $2 million, will reportedly remain as chairman for at least eight weeks. The sale represents about a 200,000 per cent return on investment for the Fertittas.
The new owners include a partnership between William Morris Endeavor (WME), talent agency International Management Group and Michael Dell's private equity group MSD.
Investment firm KKR has also been linked to the deal.
Contracts were reportedly signed on Saturday in the US. An official announcement is expected on Monday morning, US time. So far there has been no official statement from White, the Fertittas or anyone else linked to the deal, beside's White's emoji tweet.
