UFC selling for reported $4 billion

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(CNN) – UFC is on the block for big bucks.

CNN reports the mixed martial arts league will be sold for $4 billion.

According to CNN, the sale dwarfs previous sales of any sports franchise. The Los Angeles Dodgers was bought out of bankruptcy for $2.1 billion in 2012, which was the largest price tag at that time.

The sale will also make a gigantic profit for the the current owners of UFC.

Casino operators Lorenzo and Frank Fertitta bought Ultimate Fighting Championship (UFC) in 2001 for $2 million. UFC was founded in 1993.

UFC is being bought by a group led by talent agency WME-IMG. The Fertitta brothers will retain a minority stake in the company after the sale.

The company produced revenue near $600 million in 2015.

UFC’s primary source of revenue is pay-per-view events. The company also has a $700 million, multi-year broadcast rights deal with FOX.

Matches are broadcast in more than 156 countries and territories to more than one billion television households worldwide.

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