It is the dawn of a new era.

According to a report on FloCombat, Zuffa LLC, the principle owners of the UFC, has accepted a $4.2 billion bid from the group of WME-IMG, the Dalian Wanda Group, The Kraft Group and Tencent Holdings to sell the Las Vegas based fight promotion.

There is currently no word on how much of the ownership will be transferred over to the group, but earlier reports indicated there was interest in 100% ownership.

Lorenzo and Franker Fertitta, primary owners of Zuffa LLC, initially purchased the UFC back in 2001 for a mere $2 million. Flash forward to 2016 and the promotion is now making a reported $600 million in revenue.

The report would go on to reveal UFC President Dana White was expected to maintain his role with the company. His current shares in Zuffa will be sold as part of the deal, but he will be granted new shares to stay on in his current promotion capacity.

The MMA corner will continue to monitor the situation and keep readers updated as it unfolds.

About The Author

News Manager

José began his career as a mixed martial arts journalist while still enrolled at the Walter Cronkite School of Journalism and Mass Communications at Arizona State University. Since graduating in May 2013, he has attended dozens of high profile UFC fight cards as a credentialed member of the media, providing live cage side coverage through his articles and videos. His work has appeared on UFC.com, ArizonaSports.com and AZCentral. He is also currently one of the main contributors on Power MMA Show at Arizona Sports 98.7 FM, one of the first all MMA radio shows on a major radio station.