Vince McMahon explains why he turned down chance to buy UFC ten years before it was sold for $4billion

Vince McMahon had a simple reason for refusing to buy the UFC two decades before it merged with the WWE in a £17.3billion deal.

Last year, after his company merged with the WWE to create TKO, Dana White revealed that Shane McMahon wanted to take over the MMA promotion in the early 2000s.

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Shane McMahon saw potential when the UFC was in its infancyCredit: GettyThe UFC CEO revealed that Shane’s famous father passed on the fight league that was sold for $4billion 2016 and is now worth much more than the WWE.

In a new Netflix documentary titled ‘Mr. McMahon’, the professional wrestling legend gave a simple explanation for his decision to veto purchasing the UFC.

Even though his son was extremely excited about how far they could take the fledgling fight league, the 79-year-old didn’t want to run a company with stars that had a shelf life.

READ MORE VINCE MCMAHON”At the time, the UFC had gotten into some financial problems and came to us and said would you like to purchase the UFC,” Shane told Netflix cameras.

“I was like, ‘This is cool! I said, ‘Dad, let’s just go for this one.’

“I felt we could really grow that brand because it is tailor made to what we already do.

“We had a production team, a live events team, a merchandise team, we have all of it just ready to go. For me, it was plug and play.”

Ultimately, the patriarch of the McMahon family refused to invest in the UFC.

Shane was proven right years later, but his dad stands firm on his decision to stick to showbusiness rather than entering the wacky world of combat sports.

“When it was presented in terms of buying UFC, I didn’t like that business model,” the former WWE chairman and CEO said.

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The UFC and WWE recently merged to create a new company worth £17.3 billionCredit: Getty

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WWE co-founder McMahon has since resigned as TKO Executive Chairman of the BoardCredit: Getty”Our business model was that we created characters, much like Disney or someone else, and we can then use them forever.

“As opposed to a boxer/UFC [fighter]. Once you’re beat, once you’re hurt, your career is over. We’re in showbusiness and that is a sport.”

He added: “Ten years later, the UFC was sold for a lot of money.

Watch the brand new trailer for Netflix’s documentary about WWE owner Vince McMahon, which also stars the Rock, John Cena, Hulk Hogan and Triple H

“And Shane, I think, wants to take credit for the idea of buying UFC.

“Shane really thought that was the way to go. So, if that’s the way to go, ‘Shane, you take your money and put it in.’

“It wouldn’t work because it would’ve taken a huge investment and Shane only had a little bit, so that’s not a good investment.”