WME-IMG bought the UFC from the Fertittas for hella bucks, but thus far this year’s pay-per-view events haven’t quite seemed like the money-makers needed to recoup some of that investment. Ain’t no thing, though, ’cause here comes a billion-plus dollar cash infusion from Canada and Singapore to keep the machine greased and running.
As per the Wrap(h/t to MMAFighting):
WME-IMG is in final negotiations to land a major $1.1 billion infusion led by a Canadian pension plan fund and a Singaporean wealth fund, an individual with knowledge of the investment told TheWrap.
This investment will set the agency’s value at $6.3 billion, up from it’s $5.5 billion valuation last year.
The $1.1 billion deal is being negotiated by WME-IMG and Silver Lake Partners, a private equity firm that holds a significant stake in WME-IMG. Silver Lake announced the deal Tuesday in a letter to investors. The deal is expected to close in mid-August.
Silver Lake said in the letter that the investment will make it possible to buy out minority partners in UFC and to allow some WME-IMG senior management employees and investors to take cash out as well as fund further acquisitions.