Ultimate Fighting Championship owner Endeavor Group has announced that the company will sell sports boarding school IMG Academy to private equity firm EQT's Asian unit. The total value of the all-cash deal will be valued at $1.25 billion.
This comes just weeks after the UFC agreed to a partnership with WWE in a deal that is valued at $21 billion.
According to Reuters, IMG Academy will partner with EQT's portfolio company, Nord Anglia Education, which runs several international schools in 33 countries. Jack Hennessy, who is the co-head of education at buyer BPEA EQT, stated that the company plans to offer IMG Academy's sports programs to students across Asia.
The deal is expected to be finalized in the third quarter of 2023.
IMG Academy, which is located in Bradenton, Fla., is a training school that has produced some of high-profile professional athletes throughout the sports world. The school began offering a basketball program in 2001 while a football program was added in 2010.
New York Giants offensive guard Evan Neal, Denver Broncos wide receiver K.J. Hamler, and Portland Trail Blazers guard Anfernee Simons are among some of the noteworthy alumni that has attended IMG Academy in the past.
Prior to being known as IMG Academy, the school was known as the Nick Bollettieri Tennis Academy when it was founded by the American tennis coach in 1978. During the school's time as a tennis powerhouse, the likes of Andre Agassi, Bjorn Borg, Pete Sampras, and Serena and Venus Williams all trained at the school.
