UFC closer to sale as bidding war draws to a close

The sale is reportedly for the complete takeover of the company

The UFC appears closer to being sold than ever with two bids of over $4 billion being submitted for the owndership of the company.

According to a report by ESPN on Thursday, WME-IMG in conjunction with Dalian Wanda Group, and China Media Capital both submitted bids in the range of $4.1 billion (€3.6 billion).

Zuffa, owned by Lorenzo and Frank Fertitta, currently own around 80% of the company. Dana White, the current president of the operation also owns a share and is expected to be kept on even if the company is sold.

It remains to be seen who wins the bidding war with a lot depending on the financing of the deal. In the same report, it is suggested that WME have been asking investors to chip in with $25 and $50 million investments.

Kraft Group, the owners of the New England Patriots, have reportedly agreed to invest in WME's bid but Kraft Group declined to comment on the reports.

Very well informed UFC journalist Ariel Helwani says the sale of the company is not completed but it is moving swiftly towards a resolution.

Another report on BJPenn.com suggests the deal is already done so expect to hear more about the complete sale of the company in the coming days.