Title: UFC and Former Fighters Settle Antitrust Lawsuits in $335 Million Deal

In a significant development for the world of mixed martial arts, the UFC and a group of approximately 1,200 former fighters have reached a settlement on a pair of long-standing antitrust lawsuits. The settlement was officially reached on March 13, just weeks before the trial was scheduled to begin on April 15.

According to a disclosure submitted to the Securities and Exchange Commission (SEC), the general terms of the settlement involve a substantial $335 million payment by UFC's parent company, TKO Group Holdings Inc. The specifics of the payment will be disclosed in a longer-form document to be filed with the court in the coming days. The payment will be tax-deductible and disbursed over time in periodic installments, although the exact breakdown of how it will be divided among the former fighters remains unknown.

Shortly after the news of the settlement broke, the plaintiffs expressed their satisfaction, stating on X, "We are pleased with the settlement and will disclose more when we file with the Court in 45-60 days. We Love All of these guys!" The UFC also released a statement, expressing their satisfaction in reaching an agreement that settles all claims asserted in both the Le and Johnson class-action lawsuits. The final terms of the settlement will be submitted to the court for approval.

The news of the settlement had an immediate impact on TKO Group Holdings Inc.'s stock, which rose over five dollars within an hour after the announcement. The legal dispute originated from five separate class-action lawsuits filed between December 2014 and March 2015, which were subsequently consolidated into one case named Le, et. al. In 2021, a separate lawsuit titled Johnson, et. al. was filed. The consolidated lawsuits sought damages ranging from $894 million to $1.6 billion, based on alleged violations of the Sherman Act.

The former fighters claimed that the UFC contract structure and business practices suppressed their ability to negotiate and explore other promotional options, effectively creating a monopsony in the industry. The group of fighters leading the effort included Cung Le, Kyle Kingsbury, Kajan Johnson, Jon Fitch, Brandon Vera, and others. In addition to seeking monetary damages, the plaintiffs also sought injunctive relief. As of now, it remains unclear if any changes to the UFC's contract structure or business practices are included in the final terms of the settlement.

This landmark settlement brings an end to a protracted legal battle, benefiting both the UFC and the former fighters involved. All parties will now await the court's approval of the final settlement terms. As the MMA community digests this news, fans are encouraged to visit the MMA Junkie Instagram page and YouTube channel for further discussions about this significant development in the world of mixed martial arts.