The UFC announced that Flash Entertainment, a wholly-owned subsidiary of the Government of the Emirate of Abu Dhabi, has purchased a 10 percent stake in Zuffa, the parent company of the Ultimate Fighting Championship and World Extreme Cagefighting.
"Over the past few years, we have built a relationship with all levels of the Flash organization," UFC Chairman and CEO Lorenzo Fertitta said in a statement. "They share our vision, passion, and enthusiasm for the UFC. We are confident that this partnership will accelerate the worldwide growth of the UFC."
Fertitta had owned 45 percent of the UFC, his brother Frank Fertitta owned another 45 percent, and UFC President Dana White owned 10 percent. The sale dilutes all existing owners proportionately, which means the Fertitta brothers now each own 40.5 percent, Abu Dhabi owns 10 percent and White owns 9 percent.
"Since our very first meeting, we were impressed by Lorenzo, Frank and Dana's commitment to growing UFC as a global sport," Flash owner Ossama Khoreibi said. "Flash is equally committed to building Abu Dhabi's profile as an international entertainment destination."
The first UFC card in Abu Dhabi is scheduled for April.
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