Abu Dhabi – Mubasher: Abu Dhabi-based Flash Entertainment on Monday announced selling its 10% stake in the Ultimate Fighting Championship (UFC) for an undisclosed amount.
Flash Entertainment, which is wholly owned by the Abu Dhabi government, has helped in organising around 2,600 events in the last 10 years.
In 2016, UFC was sold for $4 billion to a group of investors headed by talent agency William Morris Endeavor Entertainment (WME/IMG), but Flash Entertainment had kept its stake.
In an interview with Arabian Business, John Lickrish, Flash Entertainment CEO, affirmed the sale of the global martial arts business shares.
"After almost 10 years the time was right to exit that investment," Lickrish commented, adding “we just did a TV deal with ESPN for $1.5 billion for five years. Now the company is worth $7 billion.”
It's worth noting that Flash Entertainment has a slew of partnerships and agreements with major international brands, including Ticketmaster, FIFA Club World Cup and the World Professional Jiu-Jitsu Championship.