Five days ago FiveOuncesofPain.com first reported that the UFC had sold a percentage of the company to an Abu Dhabi based investor, and the promotion has since confirmed that it has in fact sold 10% of Zuffa, LLC, along with the UFC to the United Arab Emirates based company, Flash Entertainment.
Below is the full release from the UFC:
Las Vegas, NV (USA) — UFC today announced that the organization Flash Entertainment, a leading live events company based in the United Arab Emirates, has acquired a ten percent stake in Zuffa, LLC, d/b/a Ultimate Fighting Championship.
UFC owners Lorenzo J. Fertitta, Frank Fertitta III and Dana White stated that they are pleased to have this partnership in place and are honored to be associated with Flash. The Fertitta brothers and White agree that this investment brings exceptional strategic value, expertise and global opportunities to the UFC brand.
“Over the past few years, we have built a relationship with all levels of the Flash organization. They share our vision, passion, and enthusiasm for the UFC,” said Lorenzo J. Fertitta, UFC Chairman and CEO. “We are confident that this partnership will accelerate the worldwide growth of the UFC.”
Ossama Khoreibi, Chairman of Flash Entertainment, commented, “Since our very first meeting, we were impressed by Lorenzo, Frank and Dana’s commitment to growing UFC as a global sport.” He continued, “Flash is equally committed to building Abu Dhabi’s profile as an international entertainment destination, and this partnership provides further proof of our company’s bold ambitions. We look forward to an exciting future ahead, working closely with our UFC partners to activate this sport in the UAE, the region and across the world.”
The Raine Group acted as financial advisor to Flash Entertainment. Goldman Sachs served as UFC’s financial advisor.
Flash Entertainment – www.thinkflash.ae
Formed in Abu Dhabi in August 2008, Flash Entertainment is the region’s leading events consultancy, with a proven track record in delivering world-class events from movie premieres and classical shows to international tennis tournaments and megastar music concerts. Flash is made up of a team of industry professionals, offering comprehensive event management solutions from concept design and strategic planning, through to implementation, management and evaluation.
Flash Entertainment is playing a major role in the Emirate’s evolution as a leading entertainment & leisure destination having delivered some of the most high profile events in the region including George Michael & Alicia Keys, Shakira, Coldplay, Andrea Bocelli, The Killers, Rihanna and the Yasalam series of concerts featuring Beyonce, Jamiroquai, Timbaland, Kings of Leon and Aerosmith. In January 2009, Flash launched the Capitala World Tennis Championship which saw six of the world’s top male players compete in Abu Dhabi’s first international tennis tournament. The event has gone on to win numerous awards and widespread critical acclaim and in January 2010 saw the second year of the competition.
Flash is a wholly-owned subsidiary of the Government of the Emirate of Abu Dhabi.
Winner “Event Management Company of the Year” – Sound & Stage Awards 2009
Winner “Sports Event of the Year” – Capitala World Tennis Championship 2009 – Middle East Event Awards 2009
Winner “Concert of the Year 2008” George Michael & Alicia Keys live in Abu Dhabi – What’s On Dubai Awards
Winner “Concert of the Year 2008” Shakira live in Abu Dhabi – What’s On Abu Dhabi Awards
Ultimate Fighting Championship® – www.ufc.com
Owned and operated by Zuffa, LLC, and headquartered in Las Vegas, Nev., UFC® produces over twelve UFC live pay-per-view events annually and 30 live arena events around the world. UFC programming is distributed in the United States on Viacom, Inc.’s Spike TV and on Comcast, Inc.’s Versus network. Globally, UFC programming is broadcast in over 130 countries, territories and jurisdictions, reaching 430 million homes worldwide, in 20 different languages. Ancillary businesses now include UFC.com with over 5 million unique visitors per month, the best-selling UFC “Undisputed” videogame franchise distributed by THQ, UFC Gym™, UFC Fight Club affinity program, UFC Fan Expo™ festivals, branded apparel, trading cards, articulated action figures and other media including best-selling DVDs and a U.S. bimonthly magazine.
Ultimate Fighting Championship®, Ultimate Fighting®, UFC®, The Ultimate Fighter®, Submission®, As Real As It Gets®, Zuffa®, The Octagon™ and the eight-sided competition mat and cage design are registered trademarks, registered service marks, trademarks, trade dress and/or service marks owned exclusively by Zuffa, LLC and licensed to its affiliated entities and other licensees in the United States and other jurisdictions. All other marks referenced herein may be the property of Zuffa, LLC, its affiliates or other respective owners.