10 Days That Changed UFC Forever
1. 11 July 2016 - WME-IMG Purchase Of UFC Announced
We can give you plenty of reasons 11 July 2016 changed the UFC forever. 4.2 billion of them, in fact.
When entertainment powerhouse WME-IMG purchased the UFC in 2016 for the princely sum of $4.2 billion USD, it was a game changer. The UFC sale instantly became the largest sports franchise sale in history, by a long shot. Now in control of the MMA promotion was a company with links to any number of Hollywood A-Listers. A company in the business of making stars.
The changes were immediate, and in some cases, drastic. Former fighters promised jobs for life with the promotion, including Chuck Liddell and Matt Hughes, were let go. Offices were closed, as WME downsized and brought in their own people, looking to squeeze every penny to repay the massive loans required to complete the deal. Former owners Lorenzo and Frank Fertitta cashed out pretty quickly, though Dana White stayed on board as President with a slightly smaller ownership stake.
Celebrity investors including Sly Stallone, Conan O'Brien, Ben Affleck, Jimmy Kimmel and others were convinced to buy in. And with stars Ronda Rousey and Conor McGregor on top of the world, the promotion seemed unstoppable.
Then Rousey lost, retired, and moved to pro wrestling, while McGregor pursued boxing, a family, and Burger King commercials. The expected star turns for other fighters under the guidance of the new owners never materialized.
The sale of the UFC to WME-IMG certainly changed the promotion forever — but the jury is still out on whether it was for better or for worse.