Endeavor raising US$1.75b to buy rest of UFC and go public with Elon Musk to sit on board

As part of a bigger plan to go public on the New York Stock Exchange, Endeavor Group Holdings is trying to raise US$1.75 billion in an effort to buy the remainder of the UFC, multiple reports said.

According to a preliminary prospectus Endeavor filed with the Securities & Exchange Commission, the holding company -which also owns talent agencies William Morris and IMG as well as the Miss Universe beauty pageant – and UFC entered into an agreement on February 16 for Endeavor to purchase the remaining 49.9 per cent of the UFC it still does not own.

In exchange for the remaining UFC shares, the fighting organisation would receive Endeavor units, per the IPO filing – which remains in the early stages of the process.

Endeavor had owned 50.1 per cent of the UFC, with investment firms Silver Lake and KKR holding most of the remaining shares.

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