It's good to be the president.
While Lorenzo and Frank Fertitta stand to pocket most of the earnings from the massive $4 billion sale transaction that saw the longtime owners give up ownership to the WME-IMG group, Dana White isn't going to go hungry anytime soon, either.
According to a report from ESPN, White stands to receive a $360 million payout for his share of the promotion and will sign a five-year deal to remain on as company president. It's a deal that will see him earn nine-percent of UFC's annual net profits; which means nicer presents for the family come Christmas time.
From the report:
Sources tell ESPN that White's new deal is for five years and for nine percent of net profits of the company. The deal also gives White the incentive to further grow the business instead of having a locked-in salary. When reached on Tuesday, White declined comment.
Sources confirmed that White owned nine percent of the UFC, which would mean his cash out on the recent $4 billion sale to agency WME-IMG and other partners will be roughly $360 million when the deal closes. It was not immediately known if White is retaining any percentage of the new company.
The report estimated White's yearly take could be in the neighborhood of $18 million per year. Of course, under the ownership, White will be doing more, so his money won't come easy.
It was White who convinced the Fertittas to take a chance and purchase the company in 2001 for $2 million. And after sinking millions more into the world's preeminent mixed martial arts (MMA) promotion, the trio turned it into a $4 billion empire in 16 years.
Talk about a good return on investment.