ESPN's UFC Package Worth $1.5 Billion, Will Broadcast 30 Fights

ESPN is spending serious money to become a major factor in the UFC world.

The network confirmed on Wednesday that it has agreed to a five-year contract with the UFC to broadcast 30 fights in a deal worth $1.5 billion.

News of the package was first reported by Andrew Wallenstein of Variety on Tuesday. Wallenstein noted the contract will start in early 2019 and feature fights on its channels and ESPN+ streaming service. While ESPN secured its initial TV rights in a deal in April, this latest development gives the network a second portion that Fox Sports currently holds.

Wallenstein noted the breakdown is $300 million a year for the next five years and pointed out Fox has shifted to a WWE deal and will no longer pair with the UFC.

"UFC, which was acquired by Endeavor for a hefty $4.4 billion, isn't getting as much per year as it had sought for these rights," Wallenstein wrote. "It's a reflection of declining TV ratings on Fox Sports for UFC."

While headline names such as Ronda Rousey, Anderson Silva and Conor McGregor carried the sport for years, there is declining momentum, according to this report.

The UFC made national headlines when McGregor crashed media day for UFC 223 and attacked a bus carrying fellow UFC fighters. What's more, Jon "Bones" Jones—widely considered one of the best fighters in the sport's history—has tested positive for banned substances multiple times.

Despite those issues, ESPN clearly believes in the future of the sport and will invest hundreds of millions of dollars a year in it moving forward.