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Paramount Enters the Octagon

The UFC’s two F.B.I. investigations caught its new partner, Paramount Skydance, off guard. With a $7.7 billion deal signed and the bloodsport soon to start streaming, is it worth fighting over?

UFC
Could Paramount, which I’m told knew nothing about the F.B.I. investigation, eventually challenge the deal if the scandal deepens and damages the UFC brand? Photo: Jeff Bottari/Zuffa LLC
Kim Masters
November 19, 2025

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When the new management at Paramount struck its seven-year, $7.7 billion deal for the U.S. rights to UFC, some industry insiders thought David Ellison had overpaid—especially given the dearth of other bids. But there appears to be another question worth asking about the deal. UFC parent TKO did not disclose an ongoing F.B.I. inquiry surrounding the alleged fixing of a 2022 match between Darrick Minner and Shayilan Nuerdanbieke. (The bout spawned multiple investigations into fighter-turned-coach James Krause, whom the UFC ultimately banned. The Nevada Athletic Commission gave the two fighters involved lengthy suspensions.)