• Loading stock data...
Friday, July 12, 2024

Endeavor to Buy Rest of UFC, Elon Joins Board

Handout Photo-USA TODAY Sports/Design: Alex Brooks

Endeavor said in a filing with the SEC that it plans to use proceeds from an IPO to raise “at least $1.75 billion” to purchase the chunk of UFC it doesn’t already own.

The media and entertainment conglomerate tapped UFC’s $150 million revolving credit line last year, as the pandemic had a “significant impact” on operations. Endeavor also highlighted how UFC and Professional Bull Riders, another entity it owns, “were two of the first sports organizations to responsibly return” to action last spring. The company owns sports/entertainment powerhouse IMG as well.

No date or price for the IPO was listed in the filing, although the stock is set to be traded on the New York Stock Exchange under the ticker “EDR.” 

Endeavor currently owns 50.1% of UFC. Private equity firms Silver Lake and Kohlberg Kravis Roberts —  companies that were part of the $4 billion purchase from brothers Frank and Lorenzo Fertitta in 2016 — hold the rest. 

Endeavor’s current debt load is $5.7 billion, according to the filing. In 2020, the company saw revenues of $3.47 billion with a net loss of $625.3 million.

In another major reveal, Tesla CEO Elon Musk is set to join Endeavor’s board of directors. Musk was selected “because of his professional background and experience running a public company,” the filing read.

Headed by Hollywood super-agent Ari Emanuel, Endeavor planned an IPO in 2019, but the effort was halted after other companies like Uber and Peloton faltered when they went public.

Copy Link
Link Copied
Link Copied

What to Read

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’

The New College Sports Insiders Are Graphic Designers

Joe Tipton and Hayes Fawcett have become premier news-breakers on social media.
Oct 27, 2023; Sacramento, California, USA; A general of the Sacramento Kings logo on the court before the game against the Golden State Warriors at Golden 1 Center.

How Sports Went From Private Equity Punchline to Coveted Asset Class

Once an industry punchline, sports are now a coveted asset class.
Mar 18, 2023; London, UNITED KINGDOM; Leon Edwards (red gloves) celebrates after defeating Kamaru Usman (not pictured) during UFC 286 at O2 Arena. Mandatory Credit: Per Haljestam-USA TODAY Sports

The Highest-Paid UFC Welterweights

The highest-earning UFC welterweight is Kamaru Usman, who has earned $5.8 million in his time fighting in the UFC.
podcast thumbnail mobile
Front Office Sports Today

Warner Bros. Discovery Faces Final Decision on NBA Rights


Featured Today

Willie Mays’s Humility Was Key to His Genius

Mays took heat from all sides, and handled it his own way.
June 30, 2024

As Realignment Becomes Official, the Power 5 Era Is Over

It’s yet another indicator that college sports have become more commercialized.
Coyotes owner Alex Meruelo speaks to the media at a press conference announcing his new ownership of the Coyotes at Gila River Arena in Glendale on July 31, 2019. Alex Meruelo
June 29, 2024

The Dysfunctional Family Affair That Poisoned Arizona Coyotes

An absent Alex Meruelo left a power vacuum for his inexperienced son.
June 26, 2024

‘Inside Out 2’ Could Be a ‘Mighty Ducks’ Moment for Women’s Hockey

The movie could spark a new era of growth in the sport.

NBA and NHL Free Agency: Billions in New Deals Despite Economic Unrest

Rising revenues and salary caps are helping fuel a run of historic contracts.
June 24, 2024

Tiger’s Golf League Hits $500 Million Valuation Before First Swing

TGL will begin play in January 2025.
July 1, 2024

Bobby Bonilla Day: A Look at MLB’s Top Deferral Deals and Ohtani’s Pact

Well beyond Bobby Bonilla, many current and former MLB stars have their own lucrative deferrals.

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
June 13, 2024

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name

Allstate is said to be in discussions about a deal with the Big 12.
June 13, 2024

Everything You Need to Know About the Schism Rocking Competitive Eating

The business story about hot dogs that you never knew you needed.
June 12, 2024

Saudi Arabia’s Next Big Sports Target: Boxing, With Joint Venture Worth $5B

The Public Investment Fund of Saudi Arabia is focusing on boxing as its next large-scale sports target.
June 11, 2024

Breakthrough? Tiger Says PGA Tour and LIV Golf Are Eyeing ‘End Game’

Woods called a recent meeting ‘productive.’