Robert Kraft Owns Small Stake In UFC After $4 Billion Sale
By Matt Dolloff, CBS Boston
BOSTON (CBS) -- Following reports of UFC being up for sale, the mixed martial arts promotion has been sold for $4 billion. The sale was first reported by the New York Times.
The new ownership group, led by Hollywood talent agency WME-IMG, includes the Kraft Group as investors, the team confirmed in a statement on Monday.
Sources told ESPN's Darren Rovell in June that Robert Kraft's company was part of the investors that WME co-chairman Ari Emanuel asked to contribute $25-50 million to make the sale possible, but the Kraft Group declined to comment on the report. It's unclear how much the Kraft Group invested in the company.
UFC was purchased for just $2 million back in 2001 by Las Vegas entrepreneurs Frank and Lorenzo Fertitta along with president Dana White, who will stay on to run the company and be its "promotional face," according to an Associated Press report.
Kraft likely has about a one percent (or less) stake in the company. But he still stands to make a lot of cash in the long run off what's become a global entertainment brand. Time to PARTY!
This post was updated to reflect the confirmation of Kraft's involvement in the deal to buy UFC.
Matt Dolloff is a writer for CBSBostonSports.com. His opinions do not necessarily reflect that of CBS or 98.5 The Sports Hub. Have a news tip or comment for Matt? Follow him on Twitter @mattdolloff and email him at mdolloff@985thesportshub.com.
