The parent company of UFC will pay $335 million to settle two class-action lawsuits alleging that the promotion firm reduced the earning power of its fighters through anticompetitive behavior.
TKO Group Holdings, the parent company of the Ultimate Fighting Championship, has agreed to pay $335 million to settle two class-action lawsuits brought by former UFC fighters, who alleged that the promotion firm engaged in anticompetitive behavior and underpaid its athletes. The lawsuits alleged that UFC bought out or undermined rival promoters, forced UFC fighters to sign restrictive contracts that prevented them from working with potential competitors and forged exclusive deals with venues.
class action lawsuits, bringing litigation to a close and benefiting all parties,' a UFC spokesperson said in a statement. The final terms of the settlement will be submitted to the court for approval, the spokesperson said. Eric Cramer, chairman of Berger Montague and lead counsel for the plaintiffs, said the plaintiffs were 'pleased with the result and look forward to presenting the full settlement and all of its terms to the court for approval in the coming weeks.
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