WWE

WWE and UFC join hands to form 21 Billion Dollar Company

It could be the biggest merger in sporting history. The WWE brand which was founded by Vince McMahon have completed all formalities with the UFC Parent company endeavor. The reported price for acquiring the wrestling company is supposedly edeavor 9.3 billion dollars.

CNBC had reported earlier that WWE had been in a round of talks with parent company Endeavor of UFC. They wanted to hand the reins in to a new party. There were reports that Saudi Arabia’s Public Investment Fund were interested in bagging the deal. On the 3rd of April, the news came through that Endeavor had acquired 51 percent stake in World Wrestling Entertainment. The balance 48 precent stake is with the shareholders of WWE.

Dana White will don the same role in the new merged entity

The Pro Wrestling company is valued at 9.3 Billion Dollars. When the two companies became one, the total value of both the companies is expected to be around 21 Billion Dollars. Ari Immanuel who is in UFC’s top brass will be the chief executive of the new brand. McMahon will remain as the executive chairman of the WWE group. It is unknown whether McMahon will come back and don his previous role. In that role he was responsible for the running of day-to day shows in WWE.

With the two companies and brands coming together as one. There could be some changes with regard to people in the company. Mark Shapiro who is the President of Endeavor will not have any change of designation and role even in the new company. There is no change in President of the UFC as Dana White will still be at the helm in that role.

Nick Khan the CEO of WWE will now become President in the wrestling division. This big development comes after Wrestlemania the hallmark of events in WWE was played recently. The event concluded on April 2. More collaborations and coming together might be seen. But only time will tell how this deal would play out in the long run.