White ‘not going anywhere’ after further equity buyout
Dana White: “Not only am I not going anywhere, I’m actually making moves in the office and doing [stuff] and changing things for the way I really want it.”
Last week it was announced that UFC owners WME-IMG were getting a $1.1 billion investment from the Canada Pension Plan Investment Board and the Government of Singapore Investment Fund. Lance Pugmire for the LA Times reports that the new owners will be buying out equity holders, although not all fully.
Flash Entertainment, owned by the Abu Dhabi government, reportedly kept their 10% share after the intial WME-IMG sale, but are one of the equity holders being bought out, at least in part. Others include former owners Frank and Lorenzo Fertitta, and president Dana White. The new investment money will allow WME-IMG to expand to a majority ownership stake.
The money Ari’s raising shows the commitment that Ari has to the UFC, and how much he loves this thing, said a UFC official familiar with the plans but unauthorized to speak publicly.
Some speculated that with perhaps $400 million, UFC president Dana White might go into the casino business, something he had mused upon before.
I’m not going anywhere, brother, said White to Pugmire. Not only am I not going anywhere, I’m actually making moves in the office and doing [stuff] and changing things for the way I really want it.
I’m burrowing myself in like a … tick.
Ari and I are partners. We’re getting involved in more [stuff],” said White from the new Performance Institute. “We’re not going to spend a lot of money and not change things. I’m making a lot of changes in this new building for things I want changed.
It was widely expected that the league would be brought to the next level by the new owners, who have an extraordinary background in the entertainment business. However, there has been precious little discernible difference to date. With a majority ownership, perhaps that will change, and the sport will be elevated to greater heights still.
