Friday, August 19, 2022

Report: Lorenzo Fertitta Takes New Job With Red Rock Resorts, Inc.

It looks like current UFC co-owner Lorenzo Fertitta will soon have a new gig.

It was reported this week that Fertitta, a current majority owner of the UFC, has accepted a new $500,000 per year job with Red Rock, the timing of which will no doubt fuel the speculation regarding rumors of a potential multi-billion dollar sale of the UFC.

Below is an excerpt from the PR Newswire regarding Fertitta’s new job.

Lorenzo Fertitta, chairman and chief executive officer of Zuffa since June 2008,[ii] entered into a five-year new employment agreement with Red Rock, with an annual salary of $500,000, in connection with the latter’s IPO in April. [iii] He is currently a Vice President of Red Rock, according to an SC13D filing by the company on May 12, in addition being a member of its board of directors.[iv] Also, Stations Casinos and Fertitta Entertainment agreed in October, 2015, to help Fertitta Entertainment employees move money they have in Zuffa 401(k)’s out of that plan and into a new one.[v]

Let the UFC sale rumors continue running rampant. Of course, it’s worth noting that some outlets are reporting the direct opposite regarding a potential UFC sale. Oh yeah, and the UFC themselves aren’t exactly confirming any reports at this point, either.

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