UFC is a bit like NFL except instead of just a 3-4 month season, it has a 12 month season and it has international appeal.

However, unlike NFL it doesn't have a league that can control expansion or prevent others to compete in its market. In other words, UFC is a brand and it's a brand that is not fully understood and it's hard to predict what the loyalty to this brand is. So the buyers are taking a big risk. They're buying into UFCs reach via FOX, etc. But the market is prime from other players to take away market share.