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Dana White Confirms $4 Billion UFC Sale

Dana White Confirms $4 Billion UFC Sale

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On Sunday night, UFC President Dana White confirmed that the company had been sold to a group headed by the talent agency, WME/IMG for approximately $4 billion.

The new group bought out the shares of Fertitta Brothers (81 percent) and White (9 percent). As for the Abu Dhabi-based Flash Entertainment, their 10 percent shares are staying intact for the moment.

White confirmed via text message that he will be staying in the company as an owner and president to oversee the day-to-day operations.

“I’m obviously bummed about not being in business with my best friend [Lorenzo Fertitta] and my partners of 20 years,” White said. “I am happy about the future of the UFC, the sport and my role moving forward.”

White and the Fertitta brothers purchased the company in 2001, for $2 million from the Semaphore Entertainment . It struggled in their early years and in 2004, the company funded the reality show “The Ultimate Fighter” as a last hope to save the company.  This move enabled them to reach a new demographic, the 18 to 34 years old became their strongest market.

It was in May when the rumors about the company’s sale went around, which White immediately denied at the time. WME/IMG will not be playing an active role in the operations of the new company and sale is expected to be completed before UFC 202 on August 20.

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Kevin Durant Is Joining The Golden State Warriors

Kevin Durant Is Joining The Golden State Warriors

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Here’s something that shocked NBA fans on Monday.

In a pretty shocking announcement via The Players’ Tribune, Kevin Durant revealed that he has experienced “by far the most challenging few weeks in my professional life” he has decided to leave the Oklahoma City Thunder for the Golden State Warriors.

Durant is now expected to sign a two-year deal worth $54.3 million with the new team, and will have a player option after the first year.

“The primary mandate I had for myself in making this decision was to have it based on the potential for my growth as a player — as that has always steered me in the right direction,” Durant explained. “But I am also at a point in my life where it is of equal importance to find an opportunity that encourages my evolution as a man: moving out of my comfort zone to a new city and community which offers the greatest potential for my contribution and personal growth.”

Durant in the same team as MVP Stephen Curry, Draymond Green and Klay Thompson? Definitely looking forward to what the team will be showing off!

What can you say about Durant’s decision?

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