TKO Group Holdings has agreed to a $335 million payout to settle class-action lawsuits by former Ultimate Fighting Championship fighters alleging unfair pay practices.
Announced in a US Securities and Exchange Commission filing, TKO plans to distribute the settlement in periodic installments, noting the amount could be tax-deductible.
The suits accused TKO of employing antitrust practices by monopolizing the elite professional mixed-martial-arts athlete market, consequently suppressing their earnings.
A monopsony situation was highlighted, where TKO was the dominant purchaser in the market for these athletes' services.
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