TKO Settle Lawsuit For Insane 9-Figure Sum

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The TKO Group is counting the cost of a recent antitrust settlement.

As revealed in a new SEC filing, the TKO Group has reached an agreement to resolve a pair of class action lawsuits involving UFC. The settlement is worth a staggering $335 million.

The two suits cover two different periods where fighters claim they were significantly underpaid by the promotion. The first suit was initially filed in 2014 and the plaintiffs were seeking between $800 million and $1.6 billion in damages.

Crucially, the settlement keeps UFC from facing further scrutiny during a trial while keeping damages paid to a minimum.

On March 13, 2024, TKO reached an agreement to settle all claims asserted in both class action lawsuits (Le and Johnson) for an aggregate amount of $335 million payable by the Company and its subsidiaries in installments over an agreed-upon period of time. The terms will be memorialized in a long form agreement and then submitted to the court for approval. The Company anticipates that the settlement amount will be deductible for tax purposes.

The information in this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such a filing.

TKO Group Adamant Vince McMahon Will Not Return

After being accused of sexual assault and sex trafficking Vince McMahon was ordered to resign from his position as Executive Chairman of the TKO Group.

Despite speculation that he might return, TKO President Mark Shapiro recently confirmed Vince McMahon won’t be back.

McMahon continues to deny any wrongdoing.