TKO Settles Both UFC Class-Action Lawsuits (Le And Johnson) For An Aggregate Amount Of $335 Million
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The parent company of the Ultimate Fighting Championship (UFC), TKO Group Holdings, Inc. (TKO), has agreed to settle a long-running antitrust lawsuit brought by former UFC fighters for a whopping $335 million.
The lawsuit, which began in 2014 with the Le case and gained momentum with the Johnson case filed in 2021, alleged that the UFC violated antitrust laws by stifling competition and suppressing fighter pay. The fighters claimed the UFC operated as a monopoly, restricting their ability to negotiate for better contracts and participate in other promotions.
TKO has agreed to pay out the $335 million settlement in installments over a specified period. While the exact details of the payout structure haven't been disclosed, the settlement will be divided among all eligible former UFC fighters covered by the class action lawsuits.
The settlement agreement will be formalized in a detailed document and submitted to a Nevada court for approval. TKO also expects the settlement amount to be tax-deductible.
This settlement marks a significant development in the ongoing debate about fighter pay and competition within the UFC. While the specific details of the agreement remain confidential, it suggests a potential shift in the power dynamics between the UFC and its athletes. The substantial settlement amount could pave the way for improved compensation for fighters and potentially open doors for more competition in the world of mixed martial arts (MMA).
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The parent company of the Ultimate Fighting Championship (UFC), TKO Group Holdings, Inc. (TKO), has agreed to settle a long-running antitrust lawsuit brought by former UFC fighters for a whopping $335 million.
The lawsuit, which began in 2014 with the Le case and gained momentum with the Johnson case filed in 2021, alleged that the UFC violated antitrust laws by stifling competition and suppressing fighter pay. The fighters claimed the UFC operated as a monopoly, restricting their ability to negotiate for better contracts and participate in other promotions.
TKO has agreed to pay out the $335 million settlement in installments over a specified period. While the exact details of the payout structure haven't been disclosed, the settlement will be divided among all eligible former UFC fighters covered by the class action lawsuits.
The settlement agreement will be formalized in a detailed document and submitted to a Nevada court for approval. TKO also expects the settlement amount to be tax-deductible.
This settlement marks a significant development in the ongoing debate about fighter pay and competition within the UFC. While the specific details of the agreement remain confidential, it suggests a potential shift in the power dynamics between the UFC and its athletes. The substantial settlement amount could pave the way for improved compensation for fighters and potentially open doors for more competition in the world of mixed martial arts (MMA).
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