Report: Flash Entertainment Sells Stake In UFC To Endeavor
Endeavor’s ownership stake in the UFC has gotten bigger because the majority owners of the promotion have bought the 10% of the organization that was owned by Flash Entertainment according to Arabian Business.
Flash CEO John Lickrish says the time was right to sell their stake in the UFC to Endeavor.
”After almost ten years, the time was right to exit that investment,” Lickrish said.
The company purchased a ten percent stake in the UFC back in 2010 for $150 – $175 million (reports vary), it is unknown just how much they were paid to sell that stake to Endeavor.
Lickrish notes that Flash Entertainment will still be looking to buy other companies, even though some may prove to be more challenging than others.
”We’ve tried a few and it’s always give and take,” Lirckrish said. “There’s what’s on the piece of paper and then there’s the reality of making it work in practice. And the larger the organization, the more challenging it can be.”
A report from MMA Fighting states that Flash Entertainment could’ve made anywhere from $500 to $700 million with the sale, but those numbers weren’t confirmed.
