Endeavor CEO Ari Emanuel is leading a buyout of his company’s sports betting assets—IMG Arena and OpenBet—for $450 million.

The sports and entertainment giant, which is in the process of being taken private, announced Monday afternoon that it had reached an agreement to sell the two assets to OB Global Holdings LLC, which is backed by Emanuel. A number of OpenBet executives, including CEO Jordan Levin, are participating as well.

Endeavor bought OpenBet in 2022 for $800 million ($750 million in cash and $50 million in stock)