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|| Abu Dhabi buys 10% stake in Ultimate Fighting Championship

abu-dhabi-flash-ufc.jpgFlash Entertainment, the Abu Dhabi based live events company, has acquired 10 percent stake in Zuffa LLC, the Las Vegas firm that owns the Ultimate Fighting Championship (UFC).

Financial terms of the deal are not disclosed. As reported by The National, Zuffa LLC, The company that owns UFC, was estimated to be worth $1 billion by Forbes in May 2008. Flash is wholly owned by the government of Abu Dhabi.

With Flash network and resources, UFC can count on going into countries like China and India much easier.

Their full press release follows

UFC today announced that the organization Flash Entertainment, a leading live events company based in the United Arab Emirates, has acquired a ten percent stake in Zuffa, LLC, d/b/a Ultimate Fighting Championship.

UFC owners Lorenzo J. Fertitta, Frank Fertitta III and Dana White stated that they are pleased to have this partnership in place and are honored to be associated with Flash. The Fertitta brothers and White agree that this investment brings exceptional strategic value, expertise and global opportunities to the UFC brand.

“Over the past few years, we have built a relationship with all levels of the Flash organization. They share our vision, passion, and enthusiasm for the UFC,” said Lorenzo J. Fertitta, UFC Chairman and CEO. “We are confident that this partnership will accelerate the worldwide growth of the UFC.”

Ossama Khoreibi, Chairman of Flash Entertainment, commented, “Since our very first meeting, we were impressed by Lorenzo, Frank and Dana’s commitment to growing UFC as a global sport.” He continued, “Flash is equally committed to building Abu Dhabi’s profile as an international entertainment destination, and this partnership provides further proof of our company’s bold ambitions. We look forward to an exciting future ahead, working closely with our UFC partners to activate this sport in the UAE, the region and across the world.”

The Raine Group acted as financial advisor to Flash Entertainment. Goldman Sachs served as UFC’s financial advisor.

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