It’s been revealed that World Wrestling Entertainment, otherwise known as WWE, has agreed to merge with UFC. The newly-formed company will then be controlled by Endeavor Group.
As shared in a press release via CNBC, “Endeavor will own a 51% stake in the new combat sports and entertainment company, while WWE shareholders will have the remaining 49%.” It’s been further noted by the deal that WWE is being valued at $9.3 billion, with Endeavor’s UFC being valued at $12.1 billion. Additionally, “shares of WWE fell in premarket trading, while Endeavor shares rose.”
It’s been stated that Ari Emanuel will act as chief executive for both Endeavor and the newly-formed company. As for WWE’s Vince McMahon, he’ll be onboard as executive chairman, with Endeavor President and COO Mark Shapiro in the same positions as before. Furthermore, Dane White will remain UFC president and WWE CEO Nick Khan will also stay president of the wrestling business.
“The board will consist of 11 people,” CNBC continues, “six appointed by Endeavor and five by WWE. The merged company’s name will be announced at a later time.”
Fans have been well-aware that WWE was looking for a buyer. In fact, McMahon returned to the company to act as their chairman while the process was ongoing. Now, of course, we’ll get to see the impact of having two of the biggest sports entertainment brands come together. It’s fitting because some UFC fighters have already had histories with WWE. Though both companies certainly have their own distinct styles – so it’ll be interesting to see how that changes going forward.
— WWE (@WWE) April 3, 2023
The excitement has already been captured in a tweet by UFC champion Conor McGregor. As he shared in the below tweet:
“Congrats to the @ufc now worth a cool Proper $12bn. Wow! Endeavor bout to scoop the @WWE now also. Incredible. What a powerhouse!”
— Conor McGregor (@TheNotoriousMMA) April 2, 2023
Stay tuned to ScreenGeek for any additional updates, including the name of the newly-formed company, as we have them. For now, this is a monumental moment for sports history.