UFC Sells 10% Of Business To Abu Dhabi Company
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Jan 12 2010, 9:01 AM
The UFC sold off a chunk to an Abu Dhabi company to speed up its world expansion plan, according to president Dana White.
"UFC has no financial issues and business has never been better,"
White told www.ufc.com. "We did this deal because of the huge
opportunities it provides for UFC's global growth."
Flash Entertainment, a live events company based in the United Arab
Emirates and owned by the government of Abu Dhabi, has acquired a 10
per cent stake in Zuffa, the UFC's parent company.
"We got to know these guys discussing an event in Abu Dhabi," said
White. "This led to the investment conversation. After conducting
in-depth due diligence, they saw the tremendous global potential of the
UFC brand. The guys who run this company are young, hip, aggressive
visionaries. They are big thinkers."
White, whose ownership in the UFC drops to nine per cent from 10 per
cent, said he had no concerns about bringing on another partner.
"I don't look at this as my baby and nobody else can touch it," he
was quoted on ufc.com. "The way I look at this thing is that the UFC is
a brand, like Microsoft, McDonald's or any of these other ones. I think
that I'm going to have a certain amount of time here and then my time
will be done and I will have done my part. And then somebody else will
carry it on after me. I don't look at this like I'm going to be here
forever. A lot of people say `without Dana the UFC couldn't do this or
couldn't do that.' I think the UFC is bigger than that and bigger than
one person, including me."
Via (www.tsn.ca)
The UFC sold off a chunk to an Abu Dhabi company to speed up its world expansion plan, according to president Dana White.
"UFC has no financial issues and business has never been better," White told www.ufc.com. "We did this deal because of the huge opportunities it provides for UFC's global growth."
Flash Entertainment, a live events company based in the United Arab Emirates and owned by the government of Abu Dhabi, has acquired a 10 per cent stake in Zuffa, the UFC's parent company.
"We got to know these guys discussing an event in Abu Dhabi," said White. "This led to the investment conversation. After conducting in-depth due diligence, they saw the tremendous global potential of the UFC brand. The guys who run this company are young, hip, aggressive visionaries. They are big thinkers."
White, whose ownership in the UFC drops to nine per cent from 10 per cent, said he had no concerns about bringing on another partner.
"I don't look at this as my baby and nobody else can touch it," he was quoted on ufc.com. "The way I look at this thing is that the UFC is a brand, like Microsoft, McDonald's or any of these other ones. I think that I'm going to have a certain amount of time here and then my time will be done and I will have done my part. And then somebody else will carry it on after me. I don't look at this like I'm going to be here forever. A lot of people say `without Dana the UFC couldn't do this or couldn't do that.' I think the UFC is bigger than that and bigger than one person, including me."
Via (www.tsn.ca)
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