UFC’s parent company TKO Group Holdings has agreed to pay $355 million to settle two antitrust lawsuits, potentially ending nearly a decade of legal disputes with past fighters, pending court approval.
UFC’s moving on. They’ve finally reached a settlement that’ll probably put a stop to a couple of antitrust lawsuits.
On Wednesday, a little birdie from the Securities and Exchange Commission let it slip. UFC’s parent company, TKO Group Holdings, has agreed to cough up $355 million.
Who’s getting the cash? A bunch of folks, including some old UFC fighters. And it’s all about two separate lawsuits.
After the big announcement, MMA Fighting got a statement from a UFC spokesperson. They seemed pretty chuffed about the lawsuits being on the way to being wrapped up.
“We’re pleased,” the statement read. “We’ve reached an agreement to settle all claims in both the Le and Johnson class action lawsuits. It’s good for everyone and brings the litigation to a close.”
They added, “The final terms of the settlement will be submitted to the court for approval.” Sounds pretty official, right?
The lawsuits involved a few former UFC athletes like Cung Le and Kajan Johnson. But now that things are being sorted and an agreement’s been reached, there won’t be a trial.
So, after nearly ten years of legal tussling, it’s almost over. But wait, there’s a catch. Judge Richard Boulware still needs to give the thumbs up on the terms of the agreement. Only then can we say it’s truly done and dusted.