Since emerging as one of the most entertaining and profitable combat sports in the world over the last decade and a half, the UFC was sure to cash in on their efforts sooner or later. Today it appears that the day has arrived. UFC president Dana White along with Frank and Lorezno Fertitta founded Luffa LLC at the turn of the new millennium and purchased UFC from it’s previous owners Semaphore Entertainment Group for $2 million back in 2001. Since then, the company has grown exponentially and today it has been revealed that a winning bid of $4.2 billion was accepted by the trio to sell the company.

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It is currently unknown who exactly the winner of the bid is, but it is rumored that a group comprising of William Morris Endeavor-IMG, Chinese corporation Dalian Wanda, The Kraft Group and Chinese investment firm Tencent Holdings Limited were the leaders. The report claims that the majority owners White and the Fertitta brothers will sell 100% of their shares but White is expected to be offered future shares in order to maintain his role as President of the company.