The UFC looks set to be taken over in a multi-billion dollar deal, according to reports in America.

According to FloCombat, Zuffa (the company which owns the UFC) has accepted a $4.2billion deal from a group of companies including WME-IMG, China's Dalian and the Kraft Group.

The sale puts the UFC as one of the leading entertainment companies in the world. The Fertitta brothers, Lorenzo and Frank, bought the company in 2001 for $2 million.

Dana White is expected to stay as the public face of the company. He currently owns a 9% stake in Zuffa, which will be sold, but he will be given shares in the new company.

Former Manchester City CEO and current UFC Chief Global Brand Ambassador Garry Cook is expected to become the company's new CEO.

Despite the well placed sources, the UFC have quickly come out to rubbish the reports.

Speaking to MMACombat, the UFC's Vice President of Public Relations Dave Sholler claimed that reports of a deal were wide of the mark.

"FloCombat.com’s report indicating that the UFC has been sold is false. We’ve communicated that to our staff members tonight via an internal memo."

A leaked copy of the memo shows that the UFC are telling their staff that there is nothing to worry about. They hint at potentially bringing the case to court over the reports.

"Such misrepresentation of facts in the media negatively impacts our business, staff members and athletes. We have instructed our attorneys to investigate and take all appropriate legal actions against the parties publishing and contributing to these false stories."

The UFC's next major event is scheduled for next month when UFC 200 takes place in Las Vegas.