UFC reportedly sold for whopping amount

After much speculation it is being reported that the UFC has been sold for a whopping $4.2 billion (A$ 5.6 billion).

The bid came from WME- IMG/Dalian Wanda/Kraft Group/Tencent Holdings according to Jeremy Botter and FloCombat.

Dana White will reportedly remain president but the former UFC owners, Lorenzo and Frank Fertitta will be leaving.

The Fertittas bought UFC in 2001 for just US$2 million when the sport was virtually unknown and unsanctioned through the USA.

They poured US$40 million into it and built it into the behemoth it is today.

They were on the verge of shutting the sport down before the first season of The Ultimate Fighter, in 2005, swept the nation and brought it into the mainstream.

It is now one of the fastest growing sports in the world and brings in massive amounts of pay-per-view money every year.