CNBC is reporting that WWE is in very “advanced talks” to be sold to Endeavor Group. For those unaware, Endeavor is the parent company of the UFC. There are some rumors that the deal will be announced as soon as tomorrow, with the UFC and WWE forming a new publicly traded company.
Hollywood agent Ari Emanuel owns the Endeavor Group and would become the chief executive of what would become a dual company. Endeavor would own 51% of the new UFC/WWE company, while WWE shareholders would hold the other 49%.
As far as Vince McMahon is concerned, he would become an executive chairman of the new company, working alongside Endeavor President Mark Shapiro.
The plan calls for Dana White to remain President of the UFC, while Nick Khan will continue to be the President of WWE.
Following the news of Vince McMahon’s departure last year, WWE shares have increased by 33%. The company is currently valued at $6.79 billion. The deal with Endeavor would give WWE an enterprise value of over $9 billion.
It appears that Triple H will continue to oversee WWE’s creative direction. There is no word on if Stephanie McMahon will return following the sale.
If the deal goes through, the very outspoken and often controversial Ari Emanuel, Dana White, and Vince McMahon would all be working for one giant company.
Story developing ….. stay tuned!
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