by Bill on Wed Jun 22, 2016 7:14 am
The owners of the UFC are in advanced talks to sell the business, sources told ESPN.com.
At least four bidders are believed to have submitted bids for the organization, including WME/IMG, China Media Capital, The Blackstone Group and Dalian Wanda Group. The winning bid, should things proceed, is expected to be for a valuation between $3.5 billion and $4 billion, multiple sources with knowledge of the negotiations told ESPN.com.
UFC president Dana White said reports of the promotion being on the market are not true, telling the Las Vegas Review-Journal that "the UFC is not for sale." On Wednesday morning, White reiterated that stance.
"Yeah, we're not up for sale," White said on "The Dan Patrick Show." "We're always working on deals and our expansion globally. I've been saying since this thing came out: No, we're not for sale. But let me tell you what: If somebody shows up with $4 billion, we can talk. We can definitely talk."
White added: "Obviously, if I'm in the middle of a deal right now, there's a lot of confidentiality involved in it. We're working on expanding. We're working on growing the company and moving it to other territories like China, Japan and Korea. So yeah, we're always working on deals."
Said Dave Sholler, UFC's vice president of public relations and athlete marketing: "As a private company, we don't discuss speculation or rumors related to our business."
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There's a couple of Chinese companies bidding and that could mean a whole lot of new Chinese competitors if this goes through.
It hurts when I Pi