WWE’S shock $21BILLION deal to link up with UFC has been signed and sealed.
Parent company Endeavor have announced the two global giants are joining forces in a sports and entertainment blockbuster announcement.
GettyVince McMahon will hold a 49 per cent stake in the new global giant[/caption]
Endeavor, who run the UFC, will hold a 51 per cent stake in the business, with Vince McMahon‘s WWE bagging 49 per cent.
Speaking about the iconic link-up, wrestling supremo McMahon said: “Given the incredible work that Ari [CEO] and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders.”
The deal will also give the wrestling giants an enterprise value of $9.3billion (£7.5bn).
McMahon, though, will continue to be involved in WWE as executive chairman, while Emanuel will act as chief executive.
UFC president Dana White will also remain on his current position.
McMahon returned last January as chairman to oversee the sale of the company, which was looking for buyers.
That is after the 77-year-old’s sudden retirement in July following allegations claiming he paid hush money to several women who have alleged sexual misconduct between 2006 and 2022.
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McMahon turned WWE into a global phenomenon ever since he bought the company from his father Vince McMahon Sr in 1982.
The deal will effectively end WWE’s decades-old status as a family-run business by the McMahons.
It has been announced just one day after WrestleMania 39‘s second and final night.
McMahon added: “Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity.
“The new company will be well positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands.
“I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level.”
GettyVince, pictured with daughter Stephanie and WWE legend Triple H, have some new business partners[/caption]
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