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A new deal merges WWE and UFC under a single umbrella for a comprehensive combat sports offering subject to regulatory approval.
World Wrestling Entertainment (WWE) has agreed To merge with the Ultimate Fighting Championship (UFC) to form a publicly traded combat sports company. According to reports, the new company will be run by a talent and media holding company and UFC parent Endeavor Group Holdings.
The WWE deal comes months after news first emerged that the popular wrestling promotion was looking for a buyer. The Vince McMahon-controlled company has a current market value of $6.79 billion, although the deal valued the wrestling promotion at $9.3 billion.
The deal is expected to close near the end of the year and is subject to regulatory approval.
details of merger
The WWE-UFC merger will see Endeavor Group CEO Ari Emanuel preside over the combined company as chief executive. Emanuel will also retain his CEO position in the original Endeavor Talent Agency/William Morris Agency-merged company. Meanwhile, WWE’s McMahon will serve as the wrestling promotion’s executive chairman, while current UFC chairman Dana White will also remain in that role. In addition, Mark Shapiro, Endeavor’s President and Chief Operating Officer, will serve as executive chairman of the new company. Lastly, WWE CEO Nick Khan will retain his position as chairman.
According to the deal, 11 people will be involved in the merger, six of whom will be hired by Endeavor and five by WWE. Although the name of the new company will be announced at a later date, the merged stock will reportedly trade under the ticker TKO.
Endeavor Group would take a 51% controlling stake in the combined company, with the remaining 49% going to WWE shareholders.
WWE shares fell in premarket trading after the deal was announced, while Endeavor’s shares climbed.
WWE’s decision to merge with the UFC comes a day after the wrestling promotion’s annual WrestleMania finale. The premiere 2-day, pay-per-view event was a spectacle that drew tens of thousands of enthusiastic fans to Los Angeles’ SoFi Stadium. While WrestleMania was underway, bankers and executives from both sides of the merger were finalizing the deal.
The newly merged combat sports company is valued at more than $21 billion, with stakeholders expecting it to grow further. According to inside sources, the value of rights to live events such as wrestling and MMA will continue to rise. as Shapiro Keep This:
“Must-watch TV is a rarity these days. And unicorns like UFC and WWE will be in huge demand.
WWE and UFC Merge to Offer All-Inclusive Scripted and Real Competitive Fights
By merging WWE with the UFC, Endeavor gains control of two of the largest combat sports promotions with strategically intriguing offerings. With UFC, the holding company appeals to fans who crave authentic, brutal, spontaneous and unscripted mixed martial arts bouts. However, the acquisition of WWE also allows Endeavor to offer scripted and dramatic competitive fighting for the fans who crave such.
It’s also worth noting that there are already crossover athletes between both fight promotions. For example, current WWE Superstars Brock Lesnar and Ronda Rousey also previously competed under the UFC banner. Both were one-time UFC champions in their respective weight classes and have also held the WWE Championship multiple times.
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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to strip crypto stories down to the basics so that anyone anywhere can understand without a lot of background knowledge. When he is not delving deep into crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.