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UFC owners Lorenzo, Fertittia see revenues skyrocket


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#1 bus driver

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Posted 23 April 2008 - 01:36 PM

QUOTE
Forbes Profiles UFC Owners Lorenzo, Frank Fertitta

UFC co-Owner LORENZO FERTITTA, along with older brother and UFC co-Owner FRANK FERTITTA and UFC President DANA WHITE, has "transformed UFC from a business once labeled by [U.S. Sen.] JOHN MCCAIN[R-AZ] as 'human cockfighting' into a lucrative sports empire that competitors like [Mavericks Owner] MARK CUBAN are now hoping to horn in on," according to Matthew Miller in a cover story for FORBES. UFC this year is "likely to generate $250M, capturing perhaps 90% of [MMA] revenue," and the league in '07 drew 5.1 million PPV buys for 11 fights. The Fertitta brothers each own a 45% stake in UFC and White owns 10%. Each Fertitta has a "net worth of $1.3B, ranking each 380th on The Forbes 400." And while the Fertittas spend 90% of their time "running Station Casinos while White runs the day-to-day operations of UFC," neither brother "seems inclined to sell." Frank Fertitta: "I'm sure we could find something to do if we did. But we're having too much fun." The Fertittas, who bought UFC in '01 for $2M, said that they "field pleas from private equity and media firms to sell UFC" and that those offers "exceed $1B." Harley-Davidson CMO MARK-HANS RICHER, whose company is a UFC corporate sponsor, said of the sport's marketing appeal, "UFC has a deep, passionate fan base. Advertising to such an engaged group of young males is important to us because we want and need to be selling to the next generation." But Cuban argues that UFC is "vulnerable ... because the company is 'completely dependent on [PPV],' which used to be the primary way to see live MMA." Cuban said with HDNet and CBS now offering live events for free, "Fans may not be willing to pay 50 bucks a pop quite so often." White: "I'm flattered that Frank, Lorenzo and I have made this business look so easy. But CBS doesn't understand the fight business, and Mark Cuban doesn't know anything about the fight business, either. All he's concerned with is drawing subscribers to HDNet so he can sell out to Time Warner or Comcast." Lorenzo Fertitta: "We are like football and the NFL. The sport of [MMA] is known by one name: UFC" (FORBES, 5/5 issue).


I didn't know the UFC was so profitable.

#2 papz

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Posted 23 April 2008 - 01:39 PM

And it's only getting bigger as it steps into the mainstream... people are much more aware of the sport now compared to a couple of years ago.


Romeus will be Kiwanuka lite.

#3 WhoDat205

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Posted 23 April 2008 - 01:57 PM

It's been a truly meteoric rise. I hope it doesn't go the way of boxing where you have WBA, WBO, WBWhateverthehell, etc...I like undisputed champions, and with the Cro Cop beat-down, I felt like the UFC said, "we're the best MMA has to offer".

I'm still interested in the CBS deal. That was a pretty big risk for a national retwork to take. They've got a lot to gain and a lot to lose.
"It doesn't matter if we finesse-ively kick their asses," - Bobby McCray

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#4 betapi612

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Posted 23 April 2008 - 03:26 PM

As long as they keep the best fighters fighting each other they have no where to go but up. The second that managers, etc. get involved they will quickly go the way of boxing.
Nothing is predestined: The obstacles of your past can become the gateways that lead to new beginnings.
Ralph Blum


#5 DeuceDeuce

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Posted 23 April 2008 - 04:12 PM

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I felt like the UFC said, "we're the best MMA has to offer".


Only because Dana White bought out of Zuffa which ran Pride Fighting Championships

Pride FC was much much much more competitive than the UFC and truly displayed the best MMA had to offer. Even UFC fighters were making the trip to fight in Pride, Pride WAS the best MMA had to offer until UFC bought it out.
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