TKO Holdings, the mother or father firm for the UFC, has reached a $335 million settlement in two class-action antitrust lawsuits filed by fighters searching for higher pay.
The settlement was agreed to on March 13, a little bit greater than a month earlier than a trial was set to start within the U.S. District Courtroom of the District of Nevada on April 15, in response to a U.S. Securities and Alternate Fee submitting Wednesday.
Of their lawsuits, the plaintiffs had alleged the UFC was an unlawful monopsony that used anti-competitive practices to suppress fighter wages and stifle rival promotions. The lawsuits, one in all which represented greater than 1,200 people, spanned fighters who competed within the UFC from Dec. 16, 2010, to June 30, 2017, and from July 1, 2017 to 2021. The plaintiffs had initially sought as much as $1.6 billion in damages.
“We’re happy to have reached an settlement to settle all claims asserted in each the [Cung] Le and [Kajan] Johnson class motion lawsuits, bringing litigation to a detailed and benefiting all events,” a UFC spokesman mentioned in a press release to ESPN. “The ultimate phrases of the settlement will probably be submitted to the court docket for approval.”
The plaintiffs additionally launched a press release on X, writing, partly: “We’re happy with the settlement and can disclose extra after we file with the Courtroom in 45-60 days.”