TKO has reached a revised agreement to settle one of the two antitrust cases filed against the UFC.
The company issued a press release on Thursday stating that a new settlement figure of $375 million has been reached in the Cung Le case pending the court’s approval:
On September 26, 2024, TKO reached an agreement with the plaintiffs to settle all claims asserted in the Le case for an aggregate amount of $375 million payable in installments over an agreed-upon period of time by the Company and its subsidiaries (the “Updated Settlement Agreement”), following the court’s denial of an earlier proposed settlement agreement. The terms of the Updated Settlement Agreement have been memorialized in a long form agreement, which will be submitted to the court for approval. The Company anticipates that the settlement amount will be deductible for tax purposes.
Previously, TKO reached a settlement of $335 million covering both the Cung Le and Kajan Johnson-led antitrust cases with the revised figure only covering Le. They are still working on the Johnson case and reaching a new settlement amount.
Judge Richard Boulware rejected the initial settlement.
A trial date for the Le case was set for February 3, 2025, and the trial date would remain if Judge Boulware did not approve the settlement.
The Le case covers fighters who fought for the UFC between December 16, 2010, and June 30, 2017, with the Johnson case covering fighters who fought after the cutoff date for Le.
