TKO Group Holdings Inc., parent of the Ultimate Fighting Championship mixed-martial arts league, settled two class-action lawsuits involving its fighters for a total of $335 million.
The settlement will be paid in installments over an agreed upon period of time, the company said in a regulatory filing Wednesday.
The fighters had alleged that the league used its monopoly power to suppress their compensation. Among the claims, fighters were signed to extended contracts that barred them from working elsewhere.
Top photo: TORRENCE, CA – FEBRUARY 24: UFC championship belt is on display during a news conference between UFC featherweight champion Conor McGregor and lightweight contender Nate Diaz at UFC Gym February 24, 2016, in Torrance, California. (Photo by Kevork Djansezian/Getty Images).
Was this article valuable?
Here are more articles you may enjoy.
US, Mexico, Canada to Miss July USMCA Date, Ramping Up Trade Tension 
Zurich Insurance Expands Data-Center Offering Beyond the US 
Deadly Screwworm Parasite Found in US Threatens Cattle Herd 
Hedge Funds Are Hiring Experts in Catastrophe Risk 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.