Kun Le VS Zuffa is over🚨
Live broadcast from court
Judge Boulware grants preliminary approval in historic $375 million Le v. ZUFFA antitrust case
Big time blow from UFC veteran
👊🏼#ufc
#mma
pic.twitter.com/rROqcAN1hK
— “Filthy” Tom Lawlor (@FilthyTomLawlor)
October 22, 2024
A Nevada judge has temporarily approved a settlement agreement in the UFC’s antitrust lawsuit.
On Tuesday, Judge Richard Boulware agreed that the UFC will pay plaintiffs $375 million to settle a lawsuit first filed in 2014 by a group of fighters including Kung Lee and Nate Qualley. Approved the settlement proposal. Zuffa, the UFC’s former parent company, initially planned to “gain and maintain exclusive power in the elite professional MMA fighter services market” by acquiring rival organizations and limiting revenue by locking fighters into exclusive contracts. was accused of being involved.
According to Paul Gift, fighters who qualify over the next year (fighters who fought in the UFC from December 2010 to June 2017) will be paid about $240 to $260. The parties agreed to a $335 million settlement earlier this year, but Judge Boulware rejected the settlement primarily because it combined two separate lawsuits into one agreement. The other class, led by Kajan Johnson, represents fighters who have competed in the UFC from 2017 to the present. Under the original settlement agreement, Mr. Le’s class would receive a much larger percentage of the settlement, while Mr. Johnson’s class would receive significantly less. A second antitrust lawsuit is still ongoing, but a settlement agreement could be reached in this case as well.
Antitrust settlement with Cung Le has been tentatively approved. Over the next year, #UFC
plans to pay approximately $240 million to $260 million to Zuffa fighters from December 2010 to June 2017.
The net amount, excluding court fees, was $260 million, but attorney fees were unclear.
— Paul Gift (@MMAanalytics)
October 22, 2024
MMAFighting.com obtained a statement from an attorney representing the fighters in the initial antitrust case revealing the financial breakdown of the settlement agreement.
The $375 million all-cash recovery provides the class with prompt and substantial payment for trial and appellate delays, costs, and risks. As discussed above, this settlement This would increase the amount payable to the Le class by $123.75 million. The plaintiffs then proposed to allocate 90% of the prior settlement to the Le class (90% of the $335 million was $301.5 million). From that perspective, this settlement includes an additional $73.5 million for the Le class.
“Under this settlement, Le Class Members will recover $250,000 (on average) after all fees and costs. Thirty-five Class Members will recover more than $1 million in benefits. If close to 100 combatants participate, more than $500,000 will be collected. of the fighters will receive more than $100,000 in awards, and nearly 800 will recover more than $50,000 if the settlement is approved. , will put “life-changing” cash into the hands of hundreds of combatants’ families. ”
More than 100 former UFC fighters wrote letters supporting the settlement, some detailing the financial, emotional and physical hardships they endured as a result of their careers in the Las Vegas-based promotion. . These statements reportedly played an important role in Judge Bulware’s decision.
Eric Kramer, the lead attorney for the plaintiffs, released a statement regarding Judge Breuware’s ruling.
“I am very pleased that Judge Boulware has preliminarily approved the $375 million settlement in Le v. Zuffa,” said Mr. Kramer. “This is a monumental accomplishment that brings hundreds of MMA fighters the relief they deserve. We salute the brave lead plaintiffs who fought for this outcome for 10 years. We look forward to pursuing significant business changes and further damages in this second antitrust lawsuit.”
Meanwhile, a UFC spokesperson also released a statement to MMAFighting regarding the settlement agreement.
“Today’s decision is welcome news for both parties,” the statement said. “I am pleased that we are one step closer to closing the case.”
A public hearing for final approval will be held at a later date.
