Monday, July 11, 2016

A Tidy Profit

I wonder what the capital gains tax will be for the old UFC owners.
From ESPN:
The UFC has been sold for $4 billion in a deal expected to be officially announced Monday.
Las Vegas-based CBS affiliate KLAS and The New York Times reported late Sunday night that the new owners will be talent agency WME-IMG, its owner Silver Lake Capital, KKR and MSD Capital, the investment firm of Michael Dell.
UFC president Dana White confirmed the sale in interviews with ESPN and The Associated Press.
At $4 billion, it stands as the most expensive transaction for an organization in sports his
It's quite a story considering brothers Lorenzo and Frank Fertitta bought the organization in 2000 for $2 million.
The price paid for the UFC is roughly seven times earnings, as chairman Lorenzo Fertitta told CNN that the organization grossed about $600 million in revenues in 2015.
Fertitta, who declined comment to ESPN, will reportedly step down as part of the deal. White, who owned a 9 percent stake, will stay on and be given a stake of the new business.
The Ferritta's own several Las Vegas hotels and casinos and they are staunchly opposed to unions in their hotels.
I am sure the Ferritta's now have more money than the unions, so they will fight like hell to keep the culinary union thugs from being involved in their prosperities.


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