Abu Dhabi Company Flash Entertainment Sells Its 10 Percent UFC Share to Endeavor
Flash Entertainment, which
purchased a 10 percent share of the UFC of the UFC in 2010, has
sold its stake in the company to new owners Endeavor, according to
a report from
Arabian Business.
“After almost 10 years the time was right to exit the investment,” said Flash Entertainment CEO John Lickrish.
Financial terms of the deal were not disclosed. Flash purchased
stock in the UFC in 2010 when Zuffa still owned the company. Zuffa
sold the UFC to WME-IMG – now simply Endeavor – for more than $4
billion in 2016. Flash elected to hold on to its stock at the time
of the sale.
ESPN recently acquired streaming and television rights to the UFC for $300 million per year beginning in 2019. In total, the deal amounts to $1.5 billion over five years, and UFC President Dana White proclaimed that the company is now worth $7 billion.
Nonetheless, Flash elected to relinquish its share of the UFC. The Abu Dhabi-based company still has stake in a number of international brands, including Ticketmaster, FIFA World Cup and the World Professional Jiu-Jitsu Championship. Still, Lickrish admitted such partnerships require a lot of work to maintain.
"We've tried a few and it's always give and take,” he said. “There's what's on the piece of paper and then there's the reality of making it work in practice. And the larger the organization, the more challenging it can be.”
Endeavor has gradually acquired more of the company in recent months. In August 2017, Lorenzo and Frank Fertitta sold the remainder of their equity in the UFC – reportedly a 5.8 percent share – to give the promotion’s sale an approximate value of $5 billion.
“After almost 10 years the time was right to exit the investment,” said Flash Entertainment CEO John Lickrish.
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ESPN recently acquired streaming and television rights to the UFC for $300 million per year beginning in 2019. In total, the deal amounts to $1.5 billion over five years, and UFC President Dana White proclaimed that the company is now worth $7 billion.
Nonetheless, Flash elected to relinquish its share of the UFC. The Abu Dhabi-based company still has stake in a number of international brands, including Ticketmaster, FIFA World Cup and the World Professional Jiu-Jitsu Championship. Still, Lickrish admitted such partnerships require a lot of work to maintain.
"We've tried a few and it's always give and take,” he said. “There's what's on the piece of paper and then there's the reality of making it work in practice. And the larger the organization, the more challenging it can be.”
Endeavor has gradually acquired more of the company in recent months. In August 2017, Lorenzo and Frank Fertitta sold the remainder of their equity in the UFC – reportedly a 5.8 percent share – to give the promotion’s sale an approximate value of $5 billion.
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