U.F.C. Settles Antitrust Suit With Fighters for $335 Million
Summary
The parent company of the Ultimate Fighting Championship has agreed to a $335 million settlement with a group of mixed martial artists whose antitrust lawsuit accused the organization of abusing its market position to suppress fighter pay, the company, TKO Group, disclosed on Wednesday. For the U.F.C., it also eliminates the risk that a judge could have imposed remedies that might have upended the industry’s business model. In addition to monetary damages, the fighters had sought changes like a ban on long-term contracts, which would have given them more power and could have made it easier for potential challengers to the U.F.C. TKO Group, which admitted no wrongdoing, said in a regulatory filing that it expected the settlement, which was agreed to last week, to be tax deductible. spokesperson said, “We’re pleased to have reached an agreement to settle all claims,” adding that it would benefit “all parties.”