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FTC Closes Investigation into Zuffa
The Federal Trade Commission has decided to close its investigations, into UFC parent company Zuffa, for the time being. The investigation was opened up about one year ago, as the FTC opened investigations after Zuffa bought out Explosion Entertainment, the parent company of Strikeforce.
The FTC believed that the acquisition may be in violation of either Section 7 of the Clayton Act, about monopolies, or Section 5 of the Federal Trade Commission Act, that details unfair business practices. In a letter sent from the legal department at the FTC to Zuffa attorney, Stephen Axinn, the letter reads,
Upon further review of this matter, it now appears that no further action is warranted by the Commission at this time. Accordingly, the investigation has been closed. This action is not to be construed as a determination that a violation may not have occurred, just as the pendency of an investigation should not be construed as a determination that a violation has occurred. The Commission reserves the right to take such further action as the public interest may require.
The Strikeforce acquisition has definitely bolstered the ranks of the current UFC talent pool adding mma household names like Alistair Overeem, Nick Diaz, and Dan Henderson to name a few, with many more seemingly on their way.
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