WWE confirmed today that they had entered into an agreement with Endeavor, the parent company of the UFC.
Vince McMahon has been exploring a sale since returning as the executive chairman of the WWE Board in January following his retirement amid the hush money scandal last summer.
WWE and the UFC will be merged into one publicly traded company. It will trade under the TKO ticker symbol. Endeavor will remain in place, owning 51%, while shareholders will have 49% of the company. The transaction is expected to be completed by the end of this year.
The power structure will see Ari Emanuel as chief executive of both Endeavor and the new WWE/UFC company, while Mark Shapiro will be the new company’s president. McMahon remains the new company’s executive chairman, Nick Khan as the president of WWE, and Dana White as the president of UFC.
As previously reported, there will be a meeting with WWE employees this afternoon.
Brandon Thurston of WrestleNomics shared the message that McMahon sent out this morning to employees regarding the sale:
“I’m excited to announce that WWE has entered into a partnership with Endeavor to create a one-of-a-kind company that will bring together two global sports and entertainment powerhouses: WWE and UFC.
The historic alliance of these two formidable institutions has the potential to unlock vast growth opportunities for both organizations and generate an optimal outcome for our employees, shareholders, fans, and other stakeholders.
We are huge admirers of the work Endeavor has done to grow the UFC brand, and they will be the perfect partner to help supercharge our growth at WWE.”
"We are huge admirers of the work Endeavor has done to grow the UFC brand, and they will be the perfect partner to help supercharge our growth at WWE."
— Brandon Thurston (@BrandonThurston) April 3, 2023
