WWE reportedly nearing deal with UFC parent company Endeavor
UFC parent company Endeavor is nearing a deal to acquire WWE.
According to a report Sunday by CNBC, an announcement on the acquisition could come as soon as Monday with final details being worked out. As part of the terms of the deal, the UFC and WWE are expected to form a new publicly traded company.
Endeavor CEO Ari Emanuel will still oversee Endeavor, in addition to the new company. Vince McMahon and Endeavor president Mark Shapiro will serve as executive chairmen. Dana White will remain UFC president while current WWE CEO Nick Khan will be the president of the pro wrestling brand.
“Endeavor is slated to own 51 percent of the new combat sports and entertainment company, while WWE shareholders would get 49 percent, according to the people,” the report said. “The Endeavor deal gives WWE an enterprise value of $9.3 billion.”
Should the deal be finalized, it’ll mark the end of a 70-year reign for the McMahon family at the reins of WWE. McMahon retired from his position in July after hush money allegations came to light. His daughter Stephanie and Khan served as co-CEOs.
McMahon, 77, resumed his duties in January, however, when Stephanie stepped down and he resigned with the company. McMahon’s contract was reportedly a two-year deal.
Sunday’s news comes hours before the second of two nights of WrestleMania, the wrestling company’s marquee event, and six days prior to Saturday’s UFC 287 in Miami.