Did The UFC Just Sell Itself?

The Ultimate Fighting Championship has sold itself to an investment group led by the William Morris Endeavor-IMG talent agency, according to a report by FloCombat, a popular blog site that covers mixed martial arts news events.

FloCombat, citing "multiple sources" confirmed Wednesday morning that UFC's long-time owner, Lorenzo Fertitta, inked a deal with the CEO of WME-IMG Ari Emanuel last Sunday when the two met for dinner. The sale figure has not been confirmed, but FloCombat's sources placed the sale at around $4 billion.

Other participants in the consortium include Dalian Wanda, China's largest commercial property owner and the largest owner of movie theaters in the world. Tencent, the owner of China's largest internet portal and search engine was also said to be involved in the deal.

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Rob Kraft, the owner of the New England Patriots, was also part of the consortium through his holding company.

FloCombat noted that mainland China remains the UFC's "last remaining untapped market," so a sale to some of China's largest and most powerful entertainment-related companies would drastically improve the company's entry into the country.

It is unclear if UFC's President Dana White will remain with the company. He owns 8.89 percent of the company and sources suggested he would receive $320 million to cash out. However, he could be granted a new ownership stake and remain heavily involved in promoting the fighting events.