WWE is near being sold and forming a combat-sports behemoth with the UFC and its parent company.
Vince McMahon’s company has entered into advanced sale talks with UFC parent company Endeavor Group, in accordance with CNBC.
A deal that might join WWE and UFC in a recent publicly traded combat sports and entertainment company might be announced as soon as Monday, the report said.
It is anticipated to value WWE at $9.3 billion after its stock finished trading on Friday at $91.26 per share.
WWE will finally end up the second night of WrestleMania 39 at Los Angeles’ SoFi Stadium on Sunday.
Endeavor, which is headed up by media executive Ari Emmanuel, would own 51 percent of the brand new company.
WWE shareholders would get the opposite 49 percent, in accordance with CNBC.
Vince McMahonWireImage
Emmanuel is anticipated to be the top of the brand new company, while Vince McMahon will remain on as executive chairman, in accordance with CNBC.
UFC president Dana White and WWE CEO Nick Khan will stay on as presidents of their respective sides of the business.
WWE’s television rights deals with Fox and NBC Universal are each set to run out in 2024.
The 77-year-old McMahon retired from WWE in July amid a sexual harassment and hush-money scandal but returned in January through the use of his status as the bulk voting stockholder to push his way back on the board of directors as executive chairman to be able to oversee a possible sale of the corporate.
His return also his daughter Stephanie McMahon, who had been the co-CEO with Khan in his absence, resign from her post.
McMahon’s son-in-law, Paul “Triple H” Levesque, remains to be WWE’s head of creative and talent relations.
Ari Emanuel Zuffa LLC
McMahon has since paid back the $17.5 million in investigation costs to WWE and signed a recent two-year take care of the corporate to be executive chairman at a $1.2 million base salary along with a 175 percent bonus goal with a worth of $4.3 million.
Selling WWE would end the McMahon family’s hold of the corporate since McMahon’s father, Vince Sr., began it.
Vince McMahon bought it from his dad in 1982 for $1 million on his method to turning the brand into the multi-billion wrestling juggernaut now set to be sold.
