10% Stake Sold to Mideast Entertainment Company by UFC
As has been confirmed by the owners, a 10% stake of the Ultimate Fighting Championship has been sold by its chiefs to a Middle Eastern entertainment firm, with the aim to boost the Mixed-Martial Arts League's ability to effectively expand into the region and other areas globally.
The 10% stake in the Las Vegas-based Zuffa has been purchased by Flash Entertainment, which a wholly-owned subsidiary of Abu Dhabi, the capital of UAE and the home of the country's ruling family. Zuffa, which is the owner of both UFC and its sister league World Extreme Cagefigthing, has refused to reveal the financial terms of the deal.
"We’ve had a lot of growth over the last five years in the United States and Canada. One of our initiatives has been to grow this global brand around the world. What they will allow us to do is grow a lot faster in places like the Middle East as well as places like Southeast Asia and China and throughout that region", said Zuffa Chairman and Chief Executive Officer Lorenzo Fertitta.
On the other hand, Ossama Khoreibi, Chairman of Flash Entertainment, has said that the company is impressed with Zuffa's commitment to expanding the league's base and reach.
The UFC has already managed to make quite a fan base for itself throughout UAE via television and pay-per-view.
New Zealand News
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