Another stunning development regarding the future of World Wrestling Entertainment, Inc. (WWE) occurred just as wrestling fans were engrossed in the magnificent two-night WrestleMania extravaganza.
The family-run business has been in talks to be sold for months, and given the current circumstances, it may close a deal with the Endeavor Group, which is also the parent organization of the greatest MMA promotion in the world, Ultimate Fighting Championship (UFC).
BREAKING: Endeavor is finalizing a deal to buy WWE, according to @sherman4949.
Endeavor will then combine WWE and the UFC into one publicly traded company.
Shares of WWE are up 33% this year, and the deal gives WWE an enterprise value of more than $9 billion. pic.twitter.com/kjSt3v9qtf
— Joe Pompliano (@JoePompliano) April 2, 2023
Why did Vince McMahon choose to sell the WWE?
Earlier in January, Vince McMahon took over as WWE’s executive chairman again after his daughter resigned as the company’s co-CEO and board chairwoman.
In the midst of numerous accusations of sexual misconduct in July of the year before, Vince made the decision to leave his position as WWE’s chief executive officer. Many people think Vince has come back with the sole intention of selling the company.
NEWS: Endeavor is finalizing a deal to buy WWE, per @CNBC.
The deal values WWE at about $9.3 billion — and would combine UFC and WWE into one publicly traded company. pic.twitter.com/LdnoyuflvX
— Front Office Sports (@FOS) April 2, 2023
Since the beginning of this year, there has been a great deal of discussion about the potential sale of the biggest wrestling promotion in the world. A week after McMahon’s return, word spread that the Public Investment Fund of Saudi Arabia would be buying the business.
This sent the company’s stock price soaring in both directions. Unfortunately, that agreement ultimately did not come to pass, and WWE continued to hunt for potential buyers.
CNBC is reporting that Ari Emanuel’s Endeavor Group will be purchasing the WWE and it could be announced on Monday.
Ari Emanuel is about to own the 2 biggest entities in professional wrestling and MMA.
The WWE and the UFC. pic.twitter.com/XhpEFkb0PJ
— MMA History Today (@MMAHistoryToday) April 2, 2023
How will Endeavor Group Holdings Inc. and World Wrestling Entertainment, Inc. finalize the potential deal?
After almost three months, Vince McMahon’s company, WWE, is once more in talks for a sale, and this time, Ari Emanuel’s Endeavor Group is very close to finalizing a deal with Vince McMahon’s business. The corporation has never come this close to selling their decade-old family-run business, according to the official reports from CNBC’s Morgan Brennan.
Since 1982, when Vince purchased the business from his father, the enterprise has been progressively built up. His business now has $9.3 billion worth after nearly 40 years. Ari Emanuel of Endeavor will likely continue in his role as CEO, and Vince will serve as executive chairman if everything goes as planned. A signing could happen anytime this week.
What will happen when World Wrestling Entertainment and The Ultimate Fighting Championship (UFC) are merged?
The parent organization of Dana White’s MMA promotion, UFC, is also Endeavor. The Ultimate Fighting Championship is right up there with the most significant and expanding sports organizations in the world.
Dana White, who took full control and led the UFC out of bankruptcy proceedings, is usually credited for the company’s quick ascent from the verge of bankruptcy to a billion-dollar behemoth.
Both Dana’s MMA organization and McMahon’s wrestling firm will operate independently as distinct businesses if Endeavor acquires WWE. Of course, Dana will continue to serve as the organization’s president, while Vince, together with WWE CEO and President Nick Khan, will be in charge of managing the wrestling industry.
The world’s two top MMA and wrestling organizations will be sister groups under Endeavor, which is fascinating regardless of how the rest of the situation plays out about whoever is in control.
WWE and UFC allegedly will merge as parent company Endeavor tries to buy the wrestling company pic.twitter.com/te74QLm8rn
— Dexerto (@Dexerto) April 2, 2023
What do you think about WWE being acquired by Endeavor? Will any party receive exclusive benefits? Share your thoughts with us in the comment section.