Brothers Lorenzo and Frank Fertitta have sold the Ultimate Fighting Championship (UFC) for $4 billion after buying it for $2m in 2001.
Talent agency WME-IMG confirmed its purchase of the mixed martial arts promotional company, which calls itself the fastest-growing sports organisation in the world.
The UFC produces more than 40 live events each year and sells out some of the most prestigious arenas around the world. Shows are broadcast in more than 156 countries and territories, to more than 1.1 billion households worldwide in 29 different languages.
Stars such as Conor McGregor and Michael Bisping have become household names, as well as Ronda Rousey, who is represented by WME-IMG.
The company’s chief executives Ari Emanuel and Patrick Whitesell said in a combined statement: “We’ve been fortunate over the years to represent UFC and a number of its remarkable athletes.
“It’s been exciting to watch the organisation’s incredible growth over the last decade under the leadership of the Fertitta brothers, Dana White and their dedicated team.
“We’re now committed to pursuing new opportunities for UFC and its talented athletes to ensure the sport’s continued growth and success on a global scale.”