Report: Zuffa Sells Stake to Sheikh Tahnoon of Abu Dhabi
January 8, 2010
Cory Brady of FiveOuncesOfPain breaks the news that Zuffa has sold a minority stake to Sheikh Tahnoon Bin Zayed Al Nahyan:
FiveOuncesofPain.com has recently received reports from multiple sources extremely close to the situation indicating that the UFC has recently sold a minority percentage of the company to Sheik Tahnoon Bin Zayed Al Nahyan, the son of the former United Arab Emirates president Sheikh Zayed bin Sultan Al Nahyan.
Sheik Tahnoon is well known throughout the grappling community as the founder of the no-gi submission Olympics, the Abu Dhabi Combat Club. Himself a Brazilian Jiu-Jitsu black belt under Renzo Gracie, Shiek Tahnoon has been a long time supporter and practitioner of Jiu-Jitsu.
With a current estimated population of 896,75, Abu Dhabi is the second largest city of the United Arab Emirates. Abu Dhabi currently possesses 9% of the world’s proven oil reserves and nearly 5% of the world’s natural gas. In 2007 Fortune Magazine named Abu Dhabi as the single richest city in the world
The report comes after months of speculation that the Zuffa had indeed sold a stake to Sheikh Tahnoon – something MMAPayout.com had heard as early as last October. The percentage is believed to be approximately 10%.
It’s been rumored that the Sheikh was looking to getting into MMA with or without the Zuffa, and thus the decision was made to cut him into the organization. His wealth and numerous connections will undoubtedly prove to be a tremendous asset to the company moving forward – especially internationally within markets like the Middle East and Asia. Moreover, it is believed that the proceeds from the sale will go towards a war chest that will be used to battle for control of the Fertitta’s Station Casinos entity.
It’s unlikely that the UFC will publicly disclose the sales figure, but MMAPayout will work in the next few days to estimate the price based upon what we know about the organizations revenues, gross margins, and future growth predictions.