Since the beginning of 2023, there have been multiple reports about WWE getting sold soon. In fact, Vince McMahon’s return to the WWE Board was only and only to sell the company. While companies like Disney and Saudi’s PIF were being considered possible contenders, it seems the billion-dollar wrestling promotion has found its buyer. According to a report, WWE will soon be sold to the Endeavor Group, the company that owns UFC.
CBNC, in its recent report, provided the latest and major update about the sale of WWE. It claimed that Vince McMahon has advanced his talks with the potential buyer. As a matter of fact, the confirmation of the deal could be made public soon.
WWE likely to be sold to Endeavor Group, The parent company of UFC
According to CBNC, Vince McMahon and Endeavor Group are in advanced talks to finalize a merger deal. People familiar with the matter claim WWE will be sold to the parent company of UFC. Moreover, both promotions are reported to form a new publicly traded company.
The report further stated that Ari Emanuel’s Endeavor Group is soon going to own 51% of the WWE company. As to the rest 49%, that will still be possessed by the shareholders of the latter. The announcement of the deal is expected to be made public by Monday.
CBNC noted that WWE Shares have been up by more than 33% in 2023, with a market value of more than $6.79 billion. However, according to sources, the deal with Endeavor gives the wrestling company a value of $9.3 billion.
Vince McMahon will act as the Executive Chairman of WWE even after the deal
The report also shed light on how the hierarchy of WWE will look after it’s sold to the parent company of UFC. According to CNBC, Emanuel acted as the Chief Executive of both Endeavor Group and the billion-dollar wrestling company.
As to Vince McMahon, CNBC claimed that even if WWE is sold, he will still be the Executive Chairman. Though, the President of Endeavor (Mark Shapiro) is also going to share the role with him.
The report further went on to state that Dana White will still be the UFC President. As a matter of fact, Nick Khan will also reportedly continue with his duties as the CEO of WWE.
Nevertheless, it seems for the first time in history, WWE is no longer going to be a family-run business. Moreover, it will be interesting to see what kind of future there will be for WWE and UFC together.
For More Wrestling News, Click Here.
