Dana White will own NONE of UFC by selling remaining shares to Endeavor who aim to take 100% ownership of MMA company04/01/2021
DANA WHITE is selling his stake in the UFC with Endeavor set to take 100 per cent control of the MMA promotion.
In 2016, White and Frank and Lorenzo Fertitta, the childhood friends who acquired the UFC in 2001, sold the majority of their shares to William Morris Endeavor, formerly WME–IMG.
The sale was worth $4BILLION (£3bn), but White kept his role as UFC president and some shares, having owned nine per cent of the company before the 2016 sale.
He did, however, sell a portion of his stake, believed to be worth around $400m (£290m).
It is not clear how many shares White still had in the UFC under new owners Endeavor.
But according to The Hollywood Reporter, the promoter is set to hand over his remaining stake.
Currently, Endeavor owns 50.1 per cent of the UFC, with the other 49.9 per cent owned largely by the Silver Lake and KKR investment firms.
But Endeavor CEO Ari Emanuel, is working to take full ownership.
The New York Post, reported Endeavor want to make a play for an initial public offering (IPO) to become a publicly traded company.
They first tried that in 2019, but ultimately pulled out.
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It is also said the UFC amounted to 80 per cent of Endeavor’s 2020 profits.
Before the coronavirus pandemic, the UFC was bringing in about half of Endeavor’s earnings.
Regardless of whether White sells in his shares, he is still expected to continue as UFC president.
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