Fertittas may have match to settle legal dispute

source: empowerednews.net
 

An ongoing legal dispute about the direction of the Ultimate Fighting Championship (UFC) business may be settled by a jiu-jitsu match between brothers and co-owners, Lorenzo and Frank Fertitta.

Lorenzo confirmed in Las Vegas recently the existence oft he clause in their ownership contract that says a jiu-jitsu match will be the way to settle a dispute.  UFC, whose business is worth more than $2 billion, is the foremost provider of mixed-martial arts, considered by many as the fastest growing sport in the world today.

When the brothers were starting out with 50-50 ownership stakes, their attorneys told them they need some kind of dispute resolution. “If you guys don’t agree to something, there’s got to be a way to resolve it,” Lorenzo Ferititta quoted the lawyers as saying to them.

“So what we decided to do is we’ll have three five-minute rounds of jiu-jitsu, sport jiu-jitsu, which is points-based, with UFC president Dana White as the referee.  It hasn’t happened yet.  We have a great relationship, we’re very different personalities but we always agree.”

The Fertittas operate 18 “Station Casinos”, gambling facilities which have 22,000 poker machines, more than any other firm in Las Vegas. They bought the UFC for $2 million but incurred almost $50 million in debt later, and Lorenzo, who holds a master’s in finance degree from New York University, easily figured out this was not good for their bank balance.

”There were plenty of sleepless nights,” he said. ”But because of my passion as a fan for the sport, I wasn’t willing to quit, to tap out, ” referring to a fighter’s signal to quit during a match.

His steadfast faith in the sport, coupled with instituting safety measures, and building fighters as marketable brands, have brought UFC success not only in the U.S., but also in South America, Europe, and Australia.

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tags: Lorenzo Fertitta   Frank Egar   UFC   



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Recent Comments »

GladiatorGannon site profile image  

7/26/10 12:38 PM by GladiatorGannon

Yeah, but it is still pretty fucking cool.There are some things that are cool once, and some things that continue to be cool. This continues to be cool.

Mister Saigon site profile image  

7/26/10 12:36 PM by Mister Saigon

this is really old news as in 5 years ago or more

bismanfightclub site profile image  

7/26/10 12:25 PM by bismanfightclub

Well if one of them is not happy with Dana's reffing, maybe he gets axed later?

Zamiel site profile image  

7/26/10 12:21 PM by Zamiel

ohhhh I see...it's just a theoretical future "ongoing legal dispute", therefore no new news at all.

DJLastCall site profile image  

7/26/10 11:38 AM by DJLastCall

SpikeTV will surely make a 30m show that alludes to the possibility of them rolling...but it never actually happens.

Uncle Justice site profile image  

7/26/10 11:03 AM by Uncle Justice

 LOL, been around forever and never knew this. It's one of those stupid little things that I indeed find "cool".

I GOT FRATE TRANED site profile image  

7/26/10 10:55 AM by I GOT FRATE TRANED

Exactly!  

Lo No Ho Paura site profile image  

7/26/10 10:26 AM by Lo No Ho Paura

Like a decade at least.

anunaki site profile image  

7/26/10 10:23 AM by anunaki

without knowing much id say frank is bigger/stronger but Lorenzo is more skilled?you see blips from time to time of lornzo training MT, never seen him roll though...thats how men shoudl settle issues anyways...some sort of physical/mental competition, a battle of wills so to speak.

raf_269 site profile image  

7/26/10 10:19 AM by raf_269

 I never knew this. That's cool.