Anheuser-Busch Inbev SA (NYSE:BUD) inked a new multiyear marketing partnership with UFC, a mixed martial arts organization and part of TKO Group Holdings, Inc. (NYSE:TKO). The financial terms were not disclosed.

The partnership extends worldwide, with Anheuser-Busch becoming the "Official Global Beer Partner of UFC," effective January 1, 2024.

The deal will bring "easy enjoyment" to 21+ fans with 360-degree programming, including custom social and digital content, broadcast integration, on-site presence, and more.

In the deal, Bud Light replaced rival Modelo as UFC parted ways with it, according to a news report by The Wall Street Journal. Modelo U.S. brand licenses are exclusively owned by Constellation Brands, Inc. (NYSE:STZ).

UFC CEO Dana White said, "Anheuser-Busch and Bud Light were UFC's original beer sponsors more than fifteen years ago. I'm proud to announce we are back in business together. There are many reasons why I chose to go with Anheuser-Busch and Bud Light, most importantly because I feel we are very aligned when it comes to our core values and what the UFC brand stands for. I'm looking forward to all of the incredible things we will do in the years ahead."

Brendan Whitworth, CEO of Anheuser-Busch, said, "As one of the largest and longest standing sport sponsors, we are excited to work with UFC to celebrate our passionate fans while always making a positive impact in communities across America."

In addition, UFC and Bud Light will collaborate on original content that will be distributed through UFC's popular digital and social channels, which reach more than 243 million users worldwide. 

Bud Light will also have a presence at popular UFC fight week activities, including press conferences and weigh-ins, that help build anticipation for the main events.

In international markets, Budweiser and select local AB InBev brands will activate the sponsorship across events and marketing.

Price Action: BUD shares are trading higher by 0.80% to $53.85 premarket on the last check Wednesday.