VINCE McMahon is losing more power in the WWE following the Endeavor merger last month.
McMahon, 78, and Triple H, 54, are set to assume new roles within the WWE.
GettyVince McMahon is assuming a new role with less power the WWE[/caption]
GettyTriple H is getting more freedom with the wrestling company[/caption]
In September, the WWE officially merged with the UFC and their parent company, Endeavor.
Endeavor now owns 51 percent of the wrestling organization, while shareholders hold the remaining 49 percent, per the agreement.
The deal now values the company over $21.4 billion, with the UFC valued at $12.1 billion and the WWE at $9.3 billion.
The major merger marks the first time the WWE will not run under a McMahon name.
His father, Vince McMahon Sr, was a wrestling promoter controlling the show until his son took over in 1982.
Now, McMahon will step down from his position as WWE CEO and undertake a new role as the company’s executive chairman.
This means the 14-time World Champion wrestler turned businessman, Triple H, will have full control as the WWE’s Head of Creative, according to Sports Illustrated.
McMahon will continue his role as Executive Chairman with jobs like managing a new media rights deal for the WWE.
With Endeavor’s takeover, executives at the top of the WWE also received a big payday.
WWE President Nick Khan received the largest sum of money, securing over $15 million.
Triple H spoke about the merger on the social media platform X, formerly known as Twitter.
He wrote: “A historic day. The most exciting time in our industry that I’ve ever been a part of.
“Are you ready?”
McMahon’s decision reportedly came from Endeavor CEO Ari Emanuel.
In a statement in April, Emanuel summarized the one-of-a-kind chance the merger brings.
Emanuel said: “This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed.”
GettyThe WWE officially merged with Endeavor and the UFC in September[/caption]