The once-unthinkable and unimaginable WWE scenario is reportedly close to becoming a reality.
According to a report from Alex Sherman of CNBC, the WWE “is in advanced talks to be sold to” the Endeavor Group. WWE is owned by Vince McMahon, who bought the business from his father in 1982 (then known as “Capitol Wrestling Corporation.”
That’s not all. Sherman also reported that the deal announced could come on Monday:
“Vince McMahon’s World Wrestling Entertainment is in advanced talks to be sold to Ari Emanuel’s Endeavor Group, the parent company of UFC, according to people familiar with the matter.
A deal could be announced as soon as Monday. UFC and WWE are expected to form a new publicly traded company as part of the agreement, according to the people, who declined to be named due to the confidential nature of the discussions.
Endeavor is slated to own 51% of the new combat sports and entertainment company, while WWE shareholders would get 49%, according to the people. The Endeavor deal gives WWE an enterprise value of $9.3 billion, they said.Emanuel is expected to act as chief executive of both Endeavor and the new company. McMahon, likewise, is expected to be executive chairman, while Endeavor President Mark Shapiro will also work in the same role at the new company. Dana White will remain as president of UFC, while WWE CEO Nick Khan will serve as president of the wrestling business.
This report couldn’t have come at a bigger period for the wrestling world, either. WWE had its 2023 Hall of Fame induction ceremony on Friday, and WrestleMania 39 weekend ran on Saturday and Sunday at SoFi Stadium in Inglewood, California.
For the longest time, it always felt like WWE would stay in the McMahon family. But it appears as though Vince and company are ready to put the promotion’s future into the hands of Endeavor.
Last July, Vince announced his retirement from WWE following allegations of sexual misconduct and hush money payments. His daughter, Stephanie McMahon, and WWE President Nick Khan were named the new co-CEOs of the company.
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Triple H (real name Paul Levesque), was named the new Head of Talent Relations and the head of the creative team. Triple H is Stephanie’s husband and the son-in-law of Vince.
Triple H (real name Paul Levesque), was named the new Head of Talent Relations and the head of the creative team. Triple H is Stephanie’s husband and the son-in-law of Vince.
Back in January, however, Vince returned to the WWE board. Following his return, it was widely speculated that McMahon simply came back to help push forward on the company’s sale. It appears as though this will indeed be taking place.
