According to multiple reports Sunday night, the UFC will announce Monday that it has been sold to an entertainment group based out of New York. By all accounts, the UFC has been sold. According to MMAJunkie.com, the deal means UFC chairman Lorenzo Fertitta will step down, while president Dana White will remain as the company’s chairman. Lorenzo Fertitta and his brother Frank bought the UFC in 2001 and have overseen the company’s growth into a multinational sports conglomerate. Rumours of a potential sale have been circulating for weeks, but a report from the New York Times on Sunday evening suggested the company had been sold for US$4-billion to talent giant WME-IMG.

Source: National Post July 11, 2016 06:11 UTC