UFC releases statement after reaching settlement in antitrust lawsuits
UFC is ready to move forward after reaching a settlement agreement that will likely put an end to a pair of antitrust lawsuits.
On Wednesday, a disclosure through the Securities and Exchange Commission revealed that the UFC’s parent company TKO Group Holdings has agreed to pay out $355 million to a number of parties, including past UFC fighters, regarding two separate lawsuits.
Following the announcement, MMA Fighting received a statement from a UFC spokesperson reacting to the lawsuits being on the road to being closed up.
“We are pleased to have reached an agreement to settle all claims asserted in both the Le and Johnson class action lawsuits, bringing litigation to a close and benefiting all parties,” the UFC’s statement read. “The final terms of the settlement will be submitted to the court for approval.”
The two separate lawsuits included the likes of former UFC athletes Cung Le and Kajan Johnson, but with things being mediated and an agreement reached, the cases will not go trial, thus ending nearly a decade of legal battling between the sides. Judge Richard Boulware will have to sign off on the terms of the agreement before the matter is closed.