UFC SELLS MINORITY STAKE TO ABU DHABI COMPANY

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UFC president Dana White has admitted recently that his company is set to produce its first event in Abu Dhabi. The plan is for a UFC pay-per-view on April 10 featuring B.J. Penn’s next lightweight title defense and Matt Hughes welcoming Renzo Gracie to the UFC in a welterweight bout.

The Ultimate Fighting Championship on Tuesday confirmed recent reports that it had sold a minority interest in the company, which makes the move to Abu Dhabi a certainty. 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, according to a company release.

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.”

Flash Entertainment is noted for bringing high profile events to the region including George Michael & Alicia Keys, Shakira, Coldplay, Andrea Bocelli, The Killers, Rihanna and the Yasalam series of concerts featuring Beyonce, Jamiroquai, Timbaland, Kings of Leon, and Aerosmith. In January 2009, Flash launched the Capitala World Tennis Championship, which saw six of the world’s top male players compete in Abu Dhabi’s first international tennis tournament.

Flash is a wholly-owned subsidiary of the Government of the Emirate of Abu Dhabi.