Elon Musk could have a role to play in the UFC after Endeavor buys the promotion but is he the new owner?
Endeavor, who owned a 50.1% majority stake in the UFC, agreed to take over 100% of the fighting promotion (h/t ESPN).
The Hollywood media giants had bought the earlier stake in the UFC from the Fertitta brothers. However, filings with the Securities Exchange Commission confirmed that Endeavor has 100% stake in the UFC now.
The filing adds that Endeavor has a deal to raise at least $1.75billion to buy the UFC out before the IPO is set into place.
There was more to come though as a spokesman decided not to comment on all these findings. Endeavor had actually lost some money due to the pandemic in 2019, however, they seem to be working hard to ensure their assets are safe.
The UFC is one of the fastest rising promotions in the world and MMA is on a rise too. Further, the UFC was one of the few sports promotions continuing operations during the pandemic.
Endeavor also made some big moves and reports suggested that entrepreneur Elon Musk had joined the board of directors for the company.
Will Elon Musk be the owner of the UFC?
While Musk is known for his Tesla brand and Space X programme, this seems to be a move to get a big mind on board at Endeavor.
There is no confirmation of Musk being the owner of the UFC or if he will be involved in the day-to-day running of the promotion.
Musk is a board member and he might be involved in a few meetings but those would be for all the companies that Endeavor has under its umbrella.
Dana White has done an exceptional job since taking over as the president. Even after the first sale from WME-IMG to Endeavor, White remained as the president.
ESPN were also unable to ascertain if this complete takeover from Endeavor would affect the UFC in any shape or form.
These are interesting times for the UFC with the sport growing all across the world. Fans are also set to be allowed at UFC 261 which sees a huge rematch between Kamaru Usman and Jorge Masvidal.
Endeavor might have done some great business by becoming owners of the UFC. The UFC is growing leaps and bounds and that can only mean good things for all those involved.
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