The UFC has concluded two antitrust lawsuits by agreeing to compensate fighters who raised concerns with a total of $335 million. The settlement agreement has been formally lodged with the courts and is currently pending final validation.
As per the agreement terms, UFC will first deposit $100 million into an escrow account within three days of receiving preliminary court approval, followed by another $100 million within three days of obtaining final court approval or by November 1, 2024. The remaining $135 million will be paid out by April 1, 2025.
Former UFC athlete Nate Quarry is set to receive a one-time payment of $250,000 as part of the settlement. Furthermore, the deal incorporates a five-year extension of specific contract provisions that were revised in 2019.
Key facets of the 2019 contract modifications entail a designated negotiating period exclusively with UFC for fighters, a matching period for UFC pertaining to contracts, granting UFC control in cases of fighter refusal to compete, contract suspension in instances of retirement, as well as increased autonomy for fighters concerning their name and likeness rights.
While both parties have signed the settlement agreement, the final court approval is still pending. Any payments made in accordance with the agreement will be directed to the UFC Settlement Fund and then dispersed to eligible athletes involved in the legal dispute.
Although objections can still be submitted, it is probable that the settlement agreement will be sanctioned following a final hearing.
