News Endeavour Reaches Deal to Own 100% of UFC, Elon Musk to Join Board of Directors

[Eiger]

Yeah bro the NFL is nothing compared to the 5 billion dollar UFC lmao. Go burn your Nike sucks and suckle more Fox News.

https://www.nytimes.com/2021/03/18/sports/football/nfl-tv-contracts.html

Huh? Why would I burn clothing or watch television news? Lol.

You said:

Imagine thinking a sport that is already pushing Conor McGregor as a GOAT is somehow gonna get ruined by this transaction because you got super triggered by some black basketball and football guys kneeling before a game lol

And I linked to a survey that purports to show that, yes a whole bunch of people did indeed change their viewing habits because of the sort of things you cite.

Goofy reaction on your part.

 

[DaleBoca]

Can I now watch UFC events in my Tesla!?

 

[Paolo Delutis]

https://www.espn.com/mma/ufc/story/...-owner-ufc-agrees-take-full-control-promotion

Endeavor, the powerhouse Hollywood talent agency, has agreed to own 100% of the UFC, according to a filing Wednesday with the Securities Exchange Commission.

Endeavor acquired a majority stake of UFC parent company Zuffa from the Fertitta brothers in July 2016 when it was then known as WME-IMG. Currently, Endeavor owns 50.1% of the UFC, per the SEC filing.

In advance of the company going public via an initial public offering, Endeavor has agreed to buy out private equity firms Silver Lake Partners and KKR for full control of the mixed martial arts promotion. The agreement was reached on Feb. 16, the SEC filing states.

According to the SEC filing, Endeavor has a deal in place to raise at least $1.75 billion to buy out the remainder of the UFC before the IPO. Money raised from the IPO will also go toward the purchase. If that money is not raised and Endeavor does not end up going public, the deal will not be completed.

A spokesperson for the UFC declined comment on the agreed-upon transaction. It's unclear what Endeavor owning all of the promotion would mean, if anything, for the UFC.

Endeavor planned to go public in 2019, but it pulled back at the last minute, reportedly because of low investor demand.

Also included in the Wednesday filing was the news that business mogul Elon Musk has joined Endeavor's board of directors. Endeavor reported a $625 million net loss on $3.5 billion revenue for 2020, when many of its businesses were ravaged by the COVID-19 pandemic. Endeavor lost money in 2019, but it was profitable in 2018.

UFC will die in the 24months...callling it now..


Lets go PFL and Bellator

 

[glavinator]

What exactly has Dana done/do that makes him so valuable? People always act like he's a mastermind, but he's mostly just there in the right time and place (fair play to him for that). What has he done that your bog standard executive or promoter wouldn't have done?

Well they are 0 for 1 in IPOs...so they're more winging it.

They're the most powerful talent agency in Hollywood, if not the world. And now they have the richest man and one of the most famous men in the world on the board. They'll figure it out. Or you could apply for a job and tell them what they're doing wrong I guess

 

[smooth assassin]

WME owns half of UFC and want to go public ( so that dumb dumbs like you will buy shares of their company). They have concluded its in their best interest - financially - to buy the other half of the UFC first, to look more financially secure (so that dumb dumbs like you will buy their stock). So they’re borrowing $1.5b and spending all their cash on hand I suppose to do that.

Last time they tried to go public, enough smarty pants (unlike you) told them they would NOT buy their stock if they went public, so they didn’t. This is attempt #2.

I know you were trying be a jerkoff but that was actually helpful

 

[avenue94]

They're the most powerful talent agency in Hollywood, if not the world. And now they have the richest man and one of the most famous men in the world on the board. They'll figure it out. Or you could apply for a job and tell them what they're doing wrong I guess

Oh, I don't doubt they are more prudent business people than me. But they've had major fuck ups, as evidenced by the UFC being needed to prop up the rest of their business. Not to mention their first IPO being a massive failure that cost them a lot of money.

 

[glavinator]

Probably. But when coming to that conclusion, don’t forget that they tried to IPO fairly recently and had to rescind it at the last minute for lack of interest.

Guys like us probably though they “know what they’re doing” back then too....and we would have been wrong.

Having the richest and one of the most famous men in the world on their board will drum up some interest. He could post to that everyone should go buy a bucket of dirt and allmof a sudden dirt would be 100 bucks a bucket. Its actually mind blowing the power this guys words have. He can manipulate any market he wants with a single sentence

 

[glavinator]

Oh, I don't doubt they are more prudent business people than me. But they've had major fuck ups, as evidenced by the UFC being needed to prop up the rest of their business. Not to mention their first IPO being a massive failure that cost them a lot of money.

Not trying to be a douche, I'm half cut.
Like I mentioned above though, having elon on board is a ridiculous game changer. Regardless of what you may or may not think of him

 

[smooth assassin]

Can I now watch UFC events in my Tesla!?

That’s actually a hell of an idea

 

[BigGing]

Elon could buy the UFC and not lose one second of sleep

 

[kflo]

What exactly has Dana done/do that makes him so valuable? People always act like he's a mastermind, but he's mostly just there in the right time and place (fair play to him for that). What has he done that your bog standard executive or promoter wouldn't have done?

Well they are 0 for 1 in IPOs...so they're more winging it.

People listen to what he has to say. People care what he has to say. Not everyone can pull that off. And certainly not everyone who is running an organization.

 

[brackis1]

They're the most powerful talent agency in Hollywood, if not the world. And now they have the richest man and one of the most famous men in the world on the board. They'll figure it out. Or you could apply for a job and tell them what they're doing wrong I guess

The line of thinking you're pushing is exactly why Musk is involved:
"he is super rich so anything he says or does is smart"

People will see Musks name and go "oh my god this stock is going to the moon!!!!" and overpay and inflate the valuation of the company (even though Musk is paid to be involved, not investing).
Just because a company goes goes public doesn't mean the stock price keeps going up forever and in fact recently many stocks have had historically high IPO prices for trendy companies and then go down in value as insider owners cash out. (Ex: DoorDash, Roblox, Snowflake, Lucid, Nikola, and soon coinbase)

 

[Steve Fox]

So what does this exactly mean? What are possible changes?

UFC 535 in Mars.

Ngannou clone vs Native alien

 

[kflo]

Oh, I don't doubt they are more prudent business people than me. But they've had major fuck ups, as evidenced by the UFC being needed to prop up the rest of their business. Not to mention their first IPO being a massive failure that cost them a lot of money.

A business not being pandemic proof isn’t exactly automatically a major fuck up.

 

[brackis1]

Elon could buy the UFC and not lose one second of sleep

Not true in the slightest.
Musk doesn't even have the money to exercise the options-packages he gets paid by Tesla that are worth more than the UFC. It's like, financially historic how overinflated his wealth is.

In fact he literally had to plead with a judge a coupe years back that he was poor when getting sued for making up a ridiculous claim against a Rescue Worker saving kids in Thailand by calling them a Pedo.

But when you have "dank memes" and make dumbass claims on Twitter most people think "wow super rich genius!". It's like a refined evolved version of the Trump shtick of being seen as unquestionably wealthy.

 

[avenue94]

People listen to what he has to say. People care what he has to say. Not everyone can pull that off. And certainly not everyone who is running an organization.

Yeah, that's not things he did. Dana isn't exactly Mr Congeniality. No one is buying PPVs because of him, he doesn't' handle fighter negotiations 99 percent of the time. so what has he done that other execs didn't do? Most execs are by requirement pretty charismatic. He is supposed to promote fighters but usually shits on them. The stars the UFC had are usually in spite of the UFC. Just look at how Dana's personal pics of Sage and Paige went. Maybe Sean O Malley will be a draw, but that's it.

Not trying to be a douche, I'm half cut.
Like I mentioned above though, having elon on board is a ridiculous game changer. Regardless of what you may or may not think of him

In the sense that he will bring publicity, sure. So would a monster PPV. Or Dana running around naked while on fire. Or any list of stunts. Musk isn't going to revolutionize the UFC. He doesn't know shit about combat sports.

 

[DaleBoca]

That’s actually a hell of an idea

Maybe on the V11 update! Whenever that is.

 

[kflo]

The line of thinking you're pushing is exactly why Musk is involved:
"he is super rich so anything he says or does is smart"

People will see Musks name and go "oh my god this stock is going to the moon!!!!" and overpay and inflate the valuation of the company (even though Musk is paid to be involved, not investing).
Just because a company goes goes public doesn't mean the stock price keeps going up forever and in fact recently many stocks have had historically hi IPO prices and then go down in value as insider owners cash out.

And just talking stock price of the parent company doesn’t directly mean much for the ufc. The business of the ufc drives the ufc.

I suppose maybe there’s a subset of musk’eteers who will check out the ufc now that hadn’t before......

 

[glavinator]

The line of thinking you're pushing is exactly why Musk is involved:
"he is super rich so anything he says or does is smart"

People will see Musks name and go "oh my god this stock is going to the moon!!!!" and overpay and inflate the valuation of the company (even though Musk is paid to be involved, not investing).
Just because a company goes goes public doesn't mean the stock price keeps going up forever and in fact recently many stocks have had historically hi IPO prices and then go down in value as insider owners cash out.

I did not say or imply everything he says or does is smart, AT ALL. I think a lot of the sbit he says is retarded and borderline illegal. However, people gobble it up like fucking candy. Its crazy
@avenue94

 

[brackis1]

I did not say or imply everything he says or does is smart, AT ALL. I think a lot of the sbit he says is retarded and borderline illegal. However, people gobble it up like fucking candy. Its crazy

I'm glad you don't personally agree with it, but it's super effective on the average person.