It looks to officially be the end of an era for the UFC.
According to a report from Forbes, brothers Lorenzo and Frank Fertitta have sold their remaining stake in the company, one year removed from WME-IMG’s acquisition of the UFC for $4 billion. This concludes a run of sixteen years for the Fertittas, who bought the promotion for a mere $2 million back in 2001.
The brothers sold their remaining equity—about 5.8% between them—last month to WME-IMG, which acquired the company in August 2016, a source with knowledge of the sale told Forbes. The Fertittas received roughly a 26% premium over last year’s transaction. The new deal values UFC at approximately $5 billion.
The Fertitta brothers are each currently worth an estimated $2 billion, according to Forbes’ real-time rankings of the world’s billionaires. Reached through a representative, the brothers declined to comment on last month’s transaction.
A representative for WME-IMG and UFC also declined to comment.
This news comes just weeks after WME-IMG received $1.1 billion in investment money from the Canadian Pension Plan, as well as a Singaporean wealth fund, and “Silver Lake said in the letter that the investment will make it possible to buy out minority partners in UFC.”
On a separate note, Tilman Fertitta, a third cousin of Frank and Lorenzo, is buying the NBA’s Houston Rockets for a whopping $2.2 billion, the most expensive purchase of a franchise in league history.