Dana White has never been one to shy away from a good fight. But the battle for the UFC’s next TV deal might be his biggest yet. The promotion’s current contract with ESPN is set to expire, and the stakes couldn’t be higher. The UFC is reportedly seeking a deal worth over $1 billion per year—more than double the $450 million ESPN currently pays.

The stakes are high, with White and TKO Group Holdings CEO Ari Emanuel holding the cards. ESPN has an exclusive window to negotiate until mid-April but after that? It’s open season. So, could Netflix, the streaming powerhouse swoop in? After all, according to Emanuel, the WWE’s move to the streaming platform has seemingly made a massive impression on the TKO boss.

TKO CEO Ari Emanuel sheds light on how the UFC and Dana White could follow the WWE’s footsteps

Ari Emanuel, the man at the helm of TKO Group Holdings which has both the UFC and WWE under its umbrella, recently shed light on how WWE’s blockbuster move to Netflix came together. Speaking on The Pat McAfee Show, Emanuel shared, “They’re incredible partners. Bella, there has been incredible. Ted Sarandos has been incredible. The show’s performing. So we are we’re thrilled. And, I think they’re happy. The numbers are up, really good.”

According to a report by VideoAmp, the Netflix debut of WWE’s ‘Raw’ was watched by 2.6 million US households, a staggering figure. But according to the TKO CEO, numbers are just one part of the story.

McAfee, always one to press for details, asked the question on everyone’s mind. “How’s that [going]? How do you end up with Netflix? Because I assume there’s other streaming platforms, just like in the NFL. PRIME’s getting involved. Google’s got money. X is starting to stream things. How does Netflix become the one WWE goes with?”

Emanuel’s answer? He confessed, “I had a breakfast with Bella…” McAfee wasn’t about to let that slide. “Who’s Bella? Who’s Bella?” he asked, cutting in. “Bella runs all of the content and programming underneath Ted Sarandos at Netflix,” Emanuel clarified.

What started as a casual conversation over breakfast turned into a billion-dollar deal. Initially, they were talking about NXT, WWE’s developmental brand. But that discussion quickly escalated. From there, Emanuel shared, “And, over Christmas, a year and a half ago or whatever, we’re on a Zoom. It’s all approved. We have to have a conversation with Ted Sarandos. He’s in London seeing, ‘Stranger Things’ play. We get on the Zoom, Shapiro and I, right before Christmas and the Christmas holiday. He’s there with his CFO. It all gets done. We hang up the phone. We do a jig.”

And just like that, WWE was Netflix-bound. But what does this mean for the UFC and Dana White? With the wrestling powerhouse making the leap to the streaming giant, could the Octagon be heading to Netflix next?

TKO President reveals “maximizing brand and reach potential” as goals for UFC’s broadcast rights negotiations  

For years, ESPN has been the UFC’s exclusive home, airing everything from Fight Night events to pay-per-views. With exclusive talks set to run until April 15, ESPN has the first shot at securing the UFC for another term. But if no agreement is reached, the promotion will be free to entertain offers from a growing list of contenders, including streaming giants like Netflix, Amazon, and YouTube.

With both WWE and the UFC under the TKO Group Holdings umbrella, it wouldn’t be shocking to see Dana White’s promotion land on Netflix. However, according to TKO President Mark Shapiro, “We’re going to maximize price for our shareholders and we’re going to maximize brand and reach potential for our own properties.”

He also credited Disney CEO Bob Iger and ESPN chairman Jimmy Pitaro for their role in the UFC’s explosive growth, saying, “But ESPN just has so much reach and the CEO of Disney, Bob Iger, came up in sports so he gets it. He gets the storytelling, he gets the reach, he gets engagement. [ESPN chairman] Jimmy Pitaro’s been a phenomenal partner.”

ESPN has been a loyal partner, but with the rise of streaming giants like Netflix, the landscape is shifting. WWE’s massive move to Netflix proves that traditional TV isn’t the only game in town. Now, the question remains—will the UFC and Dana White follow suit, or will ESPN find a way to keep its prized asset? Let us know your thoughts in the comments below!