Correct Success: Endeavor finalizes agreement to own UFC in full

Endeavor, the expertise company that owns 50.1 p.c of the UFC, has agreed to purchase the remaining almost half of the corporate.

In response to a number of reviews from an preliminary public providing submitting Wednesday, the expertise company run by Ari Emanuel quickly will personal 100 p.c of the UFC. Proceeds from its IPO are anticipated to assist finance Endeavor’s buyout of the opposite present homeowners of the promotion. A lot of the opposite 49.9 p.c is owned by the Silver Lake and KKR funding companies.

Endeavor first went down the IPO street in 2019, however finally pulled out of the hassle. Endeavor reportedly struggled financially in 2020 because of the pandemic, however the one property that stored it flowing essentially the most was the UFC. In response to the New York Submit, the UFC amounted to 80 p.c of Endeavor’s 2020 earnings. Earlier than the pandemic, the UFC was bringing in roughly half of Endeavor’s earnings.

As well as, a part of Wednesday’s IPO submitting stated that Tesla CEO Elon Musk will be part of Endeavor’s board of administrators.

The UFC bounced again faster than most sports activities through the pandemic and has been holding almost weekly occasions for months now at its UFC Apex facility in Las Vegas, in addition to on “Battle Island” in Abu Dhabi. However subsequent month, it’s going to return to full arenas with UFC 261 in Jacksonville, Fla., adopted by UFC 262 in Houston.