UFC sold for $4 billion

The UFC sold for $4 billion late Sunday night. Lorenzo Fertitta steps down, UFC president Dana White remains with company. 

After months of speculation, the Ultimate Fighting Championship has sold. According to reports from TMZ Sports, the UFC has sold to WME-IMG for approximately $4 billion.

UFC officials had previously denied any potential sale, but the final stages are currently in motion.

As paper work is finalized for the deal, it will take anywhere from a few weeks to a couple of months until the final paperwork is signed and finalized.

Lorenzo Fertitta will be stepping down from his role with the promotion.

Largest sale in history of sports. #UFC sold for 4 billion to WME-IMG and MSD capital. Fertittas and White small % pic.twitter.com/b7Fj0ZXs4x

— Chris Maathuis (@sports8) July 11, 2016

As for the most notable face that casual fans will realize, UFC president Dana White, it is expected that he will remain a part of the organization. White will likely be bought out as part of the deal, before being given an option to re-purchase a small percentage of equity in the company.

How do you believe the new ownership will impact the UFC as we know it? Sound off in the comments section below with your thoughts.

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