TKO Group, the parent company that operates the UFC, has agreed terms to a $375 million settlement deal in one of two cases related to a class action lawsuit that claims the organisation violated antitrust laws.
TKO confirmed that it has reached an agreement with plaintiffs in the Le vs. Zuffa case during which it was alleged that the UFC acted to limit some athletes’ abilities to negotiate deals with third-party organisations. The case, brought by former UFC fighter Cung Le, while a second has also been filed by another ex-UFC fighter, Kajan Johnson.
“We have reached a revised agreement with Plaintiffs to settle the Le case with terms that we believe address Judge Boulware’s stated concerns,” the TKO statement read. “While we believe the original settlement was fair — a sentiment that was also shared by Plaintiffs — we feel it is in the best interest of all parties to bring this litigation to a close.
“As for the Johnson case, that process is in very early stages, and a motion to dismiss the complaint remains pending.”
The Le suit also claimed that the UFC sought an unfair advantage throughout its history with the use of anti-competitive practices “in a scheme to acquire and maintain monopsony power in the market for elite professional MMA fighter services.”
The $375 million amount exceeds a prior $335 million arrangement that Judge Richard Franklin Boulware II of the US District Court of Nevada canned this past summer.
In its defence, the UFC said that it has heavily invested in the global growth of mixed martial arts and claimed that the existence of other viable promotions was evidence that their business practices were above board.
