Title: UFC Parent Company Settles with Fighters in Class Action Lawsuits for $335 Million

In a significant development, TKO Holdings, the parent company of the Ultimate Fighting Championship (UFC), has agreed to a $335 million settlement in two class action antitrust lawsuits filed by fighters. The settlement was reached on March 13, just over a month before the trial was scheduled to begin on April 15 in the U.S. District Court of the District of Nevada, as per a U.S. Securities and Exchange Commission filing on Wednesday.

The lawsuits alleged that the UFC operated as an illegal monopsony, using anti-competitive practices to suppress fighter wages and hinder rival promotions. One of the lawsuits represented over 1,200 individuals who had competed in the UFC between December 16, 2010, and June 30, 2017, and from July 1, 2017, to the present day.

Initially seeking damages of up to $1.6 billion, the plaintiffs have now agreed to settle for an amount of $335 million. This settlement marks a significant outcome for both parties involved in the litigation.

A UFC spokesperson provided a statement to ESPN, expressing their satisfaction with the settlement. They stated, "We are pleased to have reached an agreement to settle all claims asserted in both the [Cung] Le and [Kajan] Johnson class action lawsuits, bringing litigation to a close and benefiting all parties." The final terms of the settlement will be subject to court approval.

The plaintiffs also released their own statement, indicating their contentment with the settlement agreement. They highlighted that further details will be disclosed when they file with the Court within the next 45 to 60 days.

This settlement not only brings an end to the longstanding legal battle between the UFC and the fighters but also signifies a step forward in addressing concerns regarding fighter compensation within the sport. With the final terms of the settlement set to be presented to the court for approval, the resolution of these class action lawsuits promises to have a lasting impact on the UFC and its fighters.