• by Wayne Friedman , July 11, 2016

Fast-growing Ultimate Fighting Championship mixed-martial arts league has been sold for a reported $4 billion to a group led by talent agency group WME-IMG.

UFC’s owners -- casino entrepreneurs Frank and Lorenzo Fertitta -- will stay on as minority investors. Dana White will continue as president of the UFC.

Lorenzo J. Fertitta, chairman/CEO of UFC, stated: “We’re confident that the new ownership team of WME-IMG, with whom we’ve built a strong relationship over the last several years, is committed to accelerating UFC’s global growth.”

Private-equity firms in the deal include Silver Lake, Kohlberg Kravis Roberts, and the investment firm of the billionaire Michael S. Dell. Silver Lake and KKR will have minority stakes.

The Fertittas bought U.F.C. in 2000 for just $2 million. Since then, the group spent years slowly winning approval from state athletic commissions.

UFC was founded in 1993; its fights are shown in more than 156 countries and the league says millennials make up to 45% of its audience. It produces 40 live pay-per-view TV events a year, reaching 1.1 billion TV home worldwide.

Over the past 12 months, UFC received some $4.9 million in national TV advertising value, according to iSpot.tv.

WME-IMG has been looking to move more aggressively into sports programming content. Last year, it bought the Professional Bull Riders league.

Though WME-IMG represents UFC fighters like Ronda Rousey and others, it will not get involved in the negotiations with athletes, according to The New York Times.