By: Chris Taylor
Bloomberg recently ran a feature on the Fertittas and its ownership of the UFC. The feature provided details on the Fertittas as well as some interesting financial information.
The article states that the UFC brings in $500 million in annual sales. The Fertittas, according to Bloomberg, control a fortune worth at least $1 billion dollars.
In addition to their company stakes, they own real estate, art and four jet planes. The brothers hold their assets separately and through family trusts, they say. Las Vegas-based Fertitta Enterprises Inc., a single-family office that employs about 60 people, manages the Fertittas’ wealth. The office staff vets investment opportunities (it turned down a chance to buy stock in Facebook Inc. before its public offering), handles art transactions (each brother has a collection of art worth more than $100 million) and arranges for personal security.
One of the things that was not made clear in the report was whether the $500 million in sales is the companies revenue or total sales from its PPV business. The feature is fair on the perceptions of its business despite the graphic opening describing the Cain Velasquez-Bigfoot Silva fight in May in which Cain bloodied Silva. It also covered the Stations Casinos bankruptcy and details how the brothers reorganized the company. One of the other interesting things that Bloomberg highlights is the possibility that its business could soar if online poker is permitted once again.Tags: featured, mma, MMA NEWS, Strikeforce, strikeforce news, ufc, ufc news