(UPDATED on 10/28/16 at 2:30 p.m. ET. The new group expects to cut the $55.4 million payroll by $27 million.)

The money that changed hands when the UFC sold in July to a group led by entertainment powerhouse WME-IMG was slightly lower than the reported $4 billion, according to an investor document obtained by MMAjunkie that details the transaction.

But money that will change hands if the new promotion hits earnings goals will kick it over that mark.

WME-IMG, backed by Silver Lake Partners and KKR, paid the former owners $3,775,000,000 up front for the industry-leading MMA promotion, while about $200 million went to banker fees and other expenses.

The money could get bigger for the UFC’s new management group, including president Dana White, which has attached big bonuses to huge gains in earnings.

According to the document, the new group stands to make an additional $250 million in “earn-outs” if two performance goals are met over the next two years. The $250 million represents 6.2 percent of the UFC’s reported total value of $4.025 billion.

The UFC claimed its EBITDA (earnings before interest, tax and depreciation) was $170 million from June 2015 to June 2016. But to get those bonuses, the new owners need to bump that figure to $275 million – an increase of approximately 61 percent – through June 2017 to earn a $175 million payout.

By the end of 2018, that figure needs to increase to $350 million to earn an additional $75 million.

While the earnings numbers reported in the document are “pro forma,” meaning they haven’t been audited by an outside firm, they are generally expected to be accurate for financiers and others looking at the business.

However, the document also clarifies that the figures represent “various estimates and assumptions” about “anticipated results,” meaning they’re not meant to be 100 percent accurate.

So how does the new company plan to take the UFC to profit levels it hasn’t previously seen?

In part, according to the document, the team is counting on a full schedule of 13 pay-per-view events, including the promotion’s long-awaited debut in New York, which is expected to bring in as much as $15 million in revenue just at the gate.

Increased rights fees from the UFC TV partnership with FOX and other sponsors are expected to bring in another $48 million in “contracted growth.”

One of the biggest drivers for growth, however, is cutting costs.

When the UFC laid off “under 15 percent” of its workforce earlier this month, it was just one phase of cost-cutting measures that WME-IMG expects will save the company $71 million.

An analysis of the business, conducted in part by corporate turnaround specialist Alvarez and Marsal, identified employee compensation as the biggest area of cost savings. The new group expects a payroll of $55.4 million to be slashed to $27 million, estimating a 44 percent to 53 percent reduction. Offsetting the cuts is a onetime $5 million severance payout.

The UFC’s long-running reality show “The Ultimate Fighter” also appears headed for major cutbacks. According to the document, the show’s production budget will be cut from $27.6 million to $10 million.

In a slide identified in the document as “synergy and cost saving opportunity,” the new owners tout savings opportunities “through increased standardization and more rigorous corporate discipline, namely in “compensation practices, (travel and expense) policies, long-lived consultants, political contributions, overhead, etc.”

It’s currently unclear where that leaves retired fighters such as Chuck Liddell, Matt Hughes and Antonio Rodrigo Nogueira, who hold largely ceremonial positions with the company.

WME-IMG reaps $25 million per year as a “management fee” for the UFC. But one big line item is most certainly gone – the cost of corporate jet used to fly the previous owners around the world.

The document clarifies that, “The corporate airplane is not part of the acquisition and we do not expect such expenses on an ongoing basis.”

Check back with MMAjunkie for more on the business strategy laid out by the UFC in the wake of its $4 billion sale.

And for more on the UFC’s upcoming schedule, check out the UFC Rumors section of the site.