Media Lorenzo Fertitta blocked early UFC owners from holding events on cable to tank the company’s value

WMMA Enjoyer

WMMA Enjoyer

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Lorenzo Fertitta used his seat on the Nevada State Athletic Commission to block the UFC from holding events. Soon after the Fertittas would buy the UFC for only 2 million in cash.


15 years later… the Fertittas would sell the UFC to Endeavor for 4 billion dollars.
 
Yeah, this is old news, TS, but it most people don't really know it, or seem to not really believe it. Their family used to run a shady casino down in Galveston, and were well known for being connected, etc. They have done a lot of questionable things over the years, including screwing a teacher's pension on the Xyience deal, and moving money between the casinos and UFC, only to default on the loans and then buy the collateral back for pennies on the dollar. I legitimately admire these guys for how slick they are, but they lack morals, to say the least, lol.
 
Karl_Hungus said:
Yeah, this is old news, TS, but it most people don't really know it, or seem to not really believe it. Their family used to run a shady casino down in Galveston, and were well known for being connected, etc. They have done a lot of questionable things over the years, including screwing a teacher's pension on the Xyience deal, and moving money between the casinos and UFC, only to default on the loans and then buy the collateral back for pennies on the dollar. I legitimately admire these guys for how slick they are, but they lack morals, to say the least, lol.
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Lack morals, and should be in prison for some of their practices.
 
WMMA Enjoyer said:


Lorenzo Fertitta used his seat on the Nevada State Athletic Commission to block the UFC from holding events. Soon after the Fertittas would buy the UFC for only 2 million in cash.


15 years later… the Fertittas would sell the UFC to Endeavor for 4 billion dollars.
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You could say the Fertittas strong armed their competition

JUdO3M_Y3BH_w91WwdHQf-pavFRDpI6FZ2CMhfMl778.jpg
 
StonedLemur said:
Lack morals, and should be in prison for some of their practices.
Click to expand...
I tend to choose my words carefully about people who are powerful and have shown the willingness to bend the rules in heavy ways. That is why I as a bit vague in my response. I made a post about this when I first made this account, and I think on another account, but nobody ever cares. I find the whole background story of their family to be very interesting. Someone should write a book. I have read that their family was involved in the skim that was portrayed in the movie, Casino. I can't remember all the details, and I don't even like talking about it in too much detail anyway.
 
Karl_Hungus said:
Yeah, this is old news, TS, but it most people don't really know it, or seem to not really believe it. Their family used to run a shady casino down in Galveston, and were well known for being connected, etc. They have done a lot of questionable things over the years, including screwing a teacher's pension on the Xyience deal, and moving money between the casinos and UFC, only to default on the loans and then buy the collateral back for pennies on the dollar. I legitimately admire these guys for how slick they are, but they lack morals, to say the least, lol.
Click to expand...
It seems like the widely shared history is that the Fertittas along with their pal Dana White swooped in and saved the sport of MMA from dying a sad death and fading into obscurity. Just shows they’ve always been underhanded and are even willing to rewrite history to make themselves into the good guys. Very Machiavellian and clever moves though.
 
Karl_Hungus said:
I tend to choose my words carefully about people who are powerful and have shown the willingness to bend the rules in heavy ways. That is why I as a bit vague in my response. I made a post about this when I first made this account, and I think on another account, but nobody ever cares. I find the whole background story of their family to be very interesting. Someone should write a book. I have read that their family was involved in the skim that was portrayed in the movie, Casino. I can't remember all the details, and I don't even like talking about it in too much detail anyway.
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Im sure they were involved in one form or another sir.
I also feel like everything they did was to short change the fighters, and also to jack their valuation up.

People like that, that get away with shit for so long often feel like they'll never get caught.
They're no different than schoolyard bullies, but even schoolyard bullies get their comeuppance....maybe they will too.
 
As I understand it when the Fertittas bought the UFC it wasn't sanctioned in Vegas right? And after they bought it it got resanctioned? I have a feeling they may have known they could get it sanctioned again before they bought it, call me crazy.
 
StonedLemur said:
Im sure they were involved in one form or another sir.
I also feel like everything they did was to short change the fighters, and also to jack their valuation up.

People like that, that get away with shit for so long often feel like they'll never get caught.
They're no different than schoolyard bullies, but even schoolyard bullies get their comeuppance....maybe they will too.
Click to expand...

I'm not even that mad at them. They played by the rules, at least as far as the people who were in charge of enforcing the rules were concerned. I don't like all of the things they did, but this is a tough world, and there are no free lunches. Plus, most people are idiots. They definitely made out like bandits on the UFC by out thinking the fighters, but right and wrong are subjective, for the most part. It is more complicated than I can convey in a short post, but I'm not as pissed at them as you seem to be, ha.

TankAbbott4Eva said:
As I understand it when the Fertittas bought the UFC it wasn't sanctioned in Vegas right? And after they bought it it got resanctioned? I have a feeling they may have known they could get it sanctioned again before they bought it, call me crazy.
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This is exactly what happened. Lorenzo was the head of the NSAC and blocked the UFC from getting event permits, which killed cash flow at a critical time. The old owners were forced to sell. Then, the UFC was magically granted permits for events. They are "connected."
 
TankAbbott4Eva said:
As I understand it when the Fertittas bought the UFC it wasn't sanctioned in Vegas right? And after they bought it it got resanctioned? I have a feeling they may have known they could get it sanctioned again before they bought it, call me crazy.
Click to expand...

That's where I believe Mark Ratner comes into the picture.
They most likely had him on the payroll before they even bought the UFC.

That way they would be sure they'd get it sanctioned.
 
Karl_Hungus said:
I'm not even that mad at them. They played by the rules, at least as far as the people who were in charge of enforcing the rules were concerned. I don't like all of the things they did, but this is a tough world, and there are no free lunches. Plus, most people are idiots. They definitely made out like bandits on the UFC by out thinking the fighters, but right and wrong are subjective, for the most part. It is more complicated than I can convey in a short post, but I'm not as pissed at them as you seem to be, ha.
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Out thinking the fighters who have zero knowledge on finances, or a general understanding of basic economics.
The same fighters that carried...and are still carrying the company for peanuts.

Meanwhile fuckin Dana is worth a half a billion dollars with not a single fight to speak of.

Somehow I can find it in me to applaud that kind of shitty greedy behavior, but that's just me sir.
 
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