TKO Holdings, the parent company of the UFC, has reached a $335 million settlement in two antitrust class-action lawsuits brought by fighters seeking better pay.
The settlement was agreed to on March 13, a little more than a month before the start of the trial in the US District Court for the District of Nevada on April 15, the SEC said on Wednesday.
In their lawsuits, the plaintiffs alleged that the UFC was an illegal monopoly that used anti-competitive practices to suppress fighters' wages and stifle competing promotions. The lawsuits, one of which represents more than 1,200 individuals, involve fighters who competed in the Ultimate Fighting Championship from December 16, 2010, to June 30, 2017, and from July 1, 2017, to 2021. The plaintiffs had initially sought up to $1.6 billion. . In damages.
“We are pleased to have reached an agreement to settle all claims asserted in both cases [Cung] If and [Kajan] Johnson's class action lawsuit, bringing the litigation to an end and benefiting all parties,” a UFC spokesperson said in a statement to ESPN. “The final terms of the settlement will be submitted to the court for approval.”
Prosecutors also issued a statement on X, writing in part: “We are pleased with the settlement and will reveal more when we file with court in 45 to 60 days.”
“Coffee ninja. Web fan. Hipster-friendly beer enthusiast. Professional creator.”