Originally Posted by jasvll
The Fertitas financed the reborn UFC, completely. Dana White, managing UFC fighters Ortiz and Liddell at the time, found out that the dying UFC was going to be sold, and suggested the purchase to his longtime friends, Lorenzo and Frank Fertita. They purchased the company, bringing White in as president and 10% owner and proceeded to sink millions upon millions of their own money into a company whose product was illegal. Considering what they've done with the brand and product in 6 years, I'd say they're entitled to get some of their money back, wouldn't you?
In conclusion, you think the dividend they received, a product entirely of your imagination, is bullsh!t? Wow.
"Proceeds of the term loan were used to pay a one-time special dividend to Zuffa's owners, the Fertitta brothers (90 percent) and Dana White (10 percent), and to refinance the company's existing debt. The amount of debt Zuffa refinanced and the amount it paid out in dividends can only be speculated.
However, some comments in the S&P reports suggested that the dividend payments could be quite substantial.
The company has full availability on its revolver, indicating that to this point Zuffa has funded operations out of its normal cash flow. Therefore the revolver currently represents little more than a rainy day fund. Meanwhile, as of June 30, 2007,Zuffa's total debt outstanding was $325 million."
And since when does getting a loan to refinance your company mean you get a portion for yourself? Sounds like all the idiot college students that take student loans out and get a 2000 check and go blow it.
Edit again, are you seriously trying to say they did not recieve their money back tenfold before they recieved their portion of the loan?