It is the dawn of a new era.

According to a report on FloCombat, Zuffa LLC, the principle owners of the UFC, has accepted a $4.2 billion bid from the group of WME-IMG, the Dalian Wanda Group, The Kraft Group and Tencent Holdings to sell the Las Vegas based fight promotion.

There is currently no word on how much of the ownership will be transferred over to the group, but earlier reports indicated there was interest in 100% ownership.

Lorenzo and Franker Fertitta, primary owners of Zuffa LLC, initially purchased the UFC back in 2001 for a mere $2 million. Flash forward to 2016 and the promotion is now making a reported $600 million in revenue.

The report would go on to reveal UFC President Dana White was expected to maintain his role with the company. His current shares in Zuffa will be sold as part of the deal, but he will be granted new shares to stay on in his current promotion capacity.

The MMA corner will continue to monitor the situation and keep readers updated as it unfolds.