UFC sold for $4 billion, papers signed Saturday

According to the Sports Director of KLAS-TV (CBS), Chris Maathuis, the sale of the Ultimate Fighting Championship (UFC) was finalized on Saturday. WME-IMG, Silver Lake, KKR and MSD capital purchased the mixed martial arts organization for $4 billion. The New York Times followed up with a report of their own. An official announcement from the UFC is expected for Monday morning.

Dana White will remain with the organization as its president, but his stake in the company will slightly decrease. Lorenzo and Frank Fertitta's stake in the company will heavily decrease -- they will only have a minority interest. According to TMZ Sports, Lorenzo will be stepping down as CEO. WME-IMG head Ari Emanuel will "wield a lot of power over the organization," per TMZ Sports' report. It hasn't been confirmed at this time who will replace Lorenzo as the company's CEO.

Largest sale in history of sports. #UFC sold for 4 billion to WME-IMG and MSD capital. Fertittas and White small % pic.twitter.com/b7Fj0ZXs4x

— Chris Maathuis (@sports8) July 11, 2016

#UFC sold. It's Time!! Papers signed Saturday. 4-billion price tag Dana stays on HQ Vegas Exclusively on #8NN pic.twitter.com/DwkW8j2t02

— Chris Maathuis (@sports8) July 11, 2016

Off huge #UFC weekend L Fertitta and Dana White talk sale. WME-IMG and MSD capital r buyers 4-Billion White stays, Fertitta bros small %

— Chris Maathuis (@sports8) July 11, 2016

Official confirmation coming from #UFC in the morning. @8NewsNow sat down with @danawhite and L Fertitta and will share into at 5 am #8NN

— Chris Maathuis (@sports8) July 11, 2016

Those familiar. It's WME-IMG Silver Lake KKR and MSD capital @8NewsNow will have exclusive interviews with @danawhite and L Fertitta at 5am

— Chris Maathuis (@sports8) July 11, 2016

In May, ESPN initially reported the UFC was in 'advanced talks' regarding a potential sale. FloCombat.com reported last month a bid of $4.2 billion from WME-IMG, the Dailan Wanda Group, The Kraft Group, and Tencent Holdings was accepted. UFC officials, including White, denied the report.

Here's a comment from White on the sale:

Dana White (@danawhite) on future involvement: Same. President, owner, working my ass off. Just doing it without my best friend and partner.

— Brett Okamoto (@bokamotoESPN) July 11, 2016

The sale comes directly after UFC 200, a landmark event that took place from the T-Mobile Arena in Las Vegas on Saturday.

BloodyElbow.com will keep you up to date on the UFC sale as the story develops.