Dana White Won’t Be Leaving UFC
Last week it was reported that WME/IMG the parent company to the Ultimate Fighting Championship has raised $1.1 billion from two international investors. Sources say that this influx of cash is to buy out some of its UFC minority partners stirred some speculation that UFC President Dana White might be one of those bought out and possibly replaced as the leader of the 24 year old fight brand.
In an interview with the LA Times, White clarified his position,
“Not only am I not going anywhere, I’m actually making moves in the office and doing [stuff] and changing things for the way I really want it.”
A person familiar with the plans but unauthorized to speak publicly on the matter said those being bought out included banks, investors in the United Arab Emirates, former owners Frank and Lorenzo Fertitta and White (who personally made $400 Million on last year’s sale) himself. Not all will be bought out fully, the official said, but the investment money will allow WME/IMG to expand to a majority 51% ownership stake in the UFC.
“The money Ari’s (Emanuel head of WME/IMG, and brother to mayor of Chicago Rahm) raising shows the commitment that Ari has to the UFC, and how much he loves this thing,” said the official.
Read the full story from the Los Angeles Times here.