It looks like the UFC has finally tapped out in its long-running legal battle with former fighters. The mixed martial arts giant has agreed to a whopping $375 million settlement in the antitrust lawsuit that’s been hanging over its head for nearly a decade.
This saga began way back in 2014 when a group of ex-fighters decided they had had enough. They claimed the promotion was playing a monopoly with their careers and paychecks. The lawsuit alleged that the UFC was squeezing out competition and keeping fighter pay low. Fighters argued they were getting peanuts while the UFC raked in the big bucks.
For years, the legal battle raged on. The UFC tried to duck and weave but was unable to dodge those punches. Initially, the promotion thought they would settle with a $300 million offer. But the judge did not have it, as he rejected that deal.
The UFC came back with a new offer: $375 million. This settlement will definitely sting UFC’s wallet. It clearly indicates that the fighters’ claims held some serious weight. Maybe now fans will see fewer fighters needing second jobs as construction workers, bouncers, or personal trainers.
This deal still needs the court’s stamp of approval. If approved, this settlement could change the game for MMA fighters everywhere. It might lead to better pay and fairer contracts. The UFC’s parent company, TKO Group, seems eager to put this behind them. They’re probably more relieved than the fighters to get this over with.
Federal Judge Dismisses UFC Antitrust Settlement For $335 Million
The UFC has been grappling with antitrust lawsuits for years. Former fighters claimed they were underpaid and that the promotion was playing monopoly with the sport. The UFC offered a hefty $335 million to settle the score. But Judge Richard Boulware wasn’t having it. He rejected the deal instantly.
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Now, the UFC finds itself back in the legal cage. The judge set a preliminary court date for October 28. The stakes for this settlement could be back-breaking for the promotion: a cool $1.6 billion in potential damages.
The UFC’s parent company, TKO Group, also took a hit on the stock market. Investors, however, seemed to have faith in the company’s ability to weather this storm. Nearly 2,000 fighters are represented in these lawsuits. These are athletes who put their bodies on the line for the entertainment of the fans. They’re fighting for what they believe is fair compensation.
Also Read: UFC Antitrust Lawsuit Details Not Affecting Tko Holdings Beyond Expectations Revenue
