UFC will pay R$1.67 billion to avoid trial

process

Group alleges that the organization was involved in illicit schemes to remain sovereign in the elite fighter market

The UFC (Ultimate Fighting Championship) is the target of the “antitrust lawsuit”, led by around 1200 former athletes. The group alleges that the organization was involved in illicit schemes to remain sovereign in the elite fighter market, with contracts, acquisitions and coercion.

The trial of the case was scheduled for April 15th. However, Ultimate, led by Dana White, will pay around 335 million dollars (R$1.67 billion) so that the situation does not go to court. The agreement was signed between the parties to end the process.

The confirmation was made by ‘TKO Group Holdings’, which presented a report with the agreement between the organization and the plaintiffs. As disclosed in the document, the decision was taken the previous Wednesday (13).

See excerpt from the note

“On March 13, 2024, TKO reached an agreement to resolve all claims asserted in both class action lawsuits (Le and Johnson) for a total amount of 335 million dollars to be paid by the company and its subsidiaries in installments over an agreed period of time. The terms will be memorized in a long contract and then submitted to the court for approval. The company anticipates that the settlement amount will be deductible for tax purposes.”

Was the deal good for Ultimate?

Initially, the lawsuits filed against the UFC could reach up to 1.6 billion dollars (R$8 billion) in damages. The accusation was of violation of the Sherman Act, which concerns free competition.

Cung Le, Kyle Kingsbury, Kajan Johnson and Brandon Vera are some of the former fighters responsible for the process. Structural changes to Ultimate contracts were also required.

The group claimed that the UFC “locked” athletes into long contracts, which prevented competing organizations from competing in the market. The accusation argued that the contracts reduced fighters’ salaries and rights.

The decision is still awaiting the signature of Richard Boulware, the judge responsible for the case, to be confirmed. If Richard hits the gavel, the shares will be closed.

*With information from CNN Brasil

Read more:

In the North Region, gasoline and ethanol prices increase by more than 0.60%, according to research

Court responds to request from the Public Defender’s Office and vetoes order to remove floating boats from Tarumã, in Manaus

TJD-AM opens investigation to investigate manipulation of results in RPE Parintins x Rio Negro