Endeavor Group come to an agreement with UFC and WWE to create an entertainment giant by 21.4 billion dollars (19.6 billion euros). The company first acquired the mixed martial arts company for $12.1 billion (11.1 billion dollars), and this Sunday, he already anticipated that they joined his great project to WWE for 9.3 billion dollars (8.5 billion dollars). There is already a “definitive agreement” for the creation of a new sports and entertainment company with both companies. Vince McMahon will maintain an important role in this new stage.
Endeavor announced through its networks that it had signed an agreement “to form a global sports and entertainment company live” for more than 21 billion dollars, formed by the UFC and WWE. The company will have a 51% majority stakeand the shareholders of the wrestling organization will have the 49%. Vince McMahon, president of the company, will have an important role in the new project.
“This is a unique opportunity to create a pure global live sports and entertainment game built for the direction of the industry,” Endeavor CEO Ariel Emanuel shared in a statement. “For decades, Vince and his team have demonstrated an incredible track record of innovation and creating shareholder value, and we are confident that Endeavor can provide a Significant additional shareholder value by uniting the UFC and WWE”, he declared. The WWE President is confident in the success of the project. “Given the incredible work that Ari and Endeavor have done to grow the UFC brand, nearly doubling its revenue over the last seven years, and the immense success we have already had in partnering with their team on various ventures, I believe this is without doubt the best outcome for our shareholders and other stakeholders”, McMahon explained, “The new company will be well positioned to maximize the value of our rights mixed media, improve sponsorship monetizationdevelop new forms of content and look for others strategic mergers and acquisitions to further reinforce our strong brand stability.”
WWE shareholders will transfer the capital to a new entity, which will be the UFC parent company and wrestling company. They will be listed on the New York Stock Exchange. They will broaden the collective investor base for greater market share. The transaction has already been unanimously approved by the Executive Committee of Endeavor’s Board of Directors and by the WWE Board of Directors. It is expected to close in the second half of 2023.