According to CNN, WWE and UFC is merging with Endeavor Group, the parent company of UFC to form a new publicly traded company. The news came on April 3rd and the chairman of WWE Vince McMahon announced this internet-breaking statement. The new company is estimated over $21 billion where UFC is worth $12.1 billion and WWE is worth $9.7 billion.
As a result of the UFC-WWE merger, Vince McMahon will become the executive chairman and Nick Khan will be its president. Dana White will remain the president of UFC.
Mr. McMahon’s position in the new company
At the new company, which has no name yet, Vince McMahon will continue to hold the executive chairman position he currently holds with WWE. In a statement, he said that the brand-new business “will be well positioned to maximize the value of our combined media rights.” The new business might grow, he added, by seeking more mergers and acquisitions “to further bolster our strong stable of brands.”
Early trading saw a decline of over 10% in WWE shares and about 2% in Endeavor. Upon completion of the acquisition, which is anticipated to happen in the second half of this year, the firms anticipate cost savings of $50 million to $100 million. The ticker symbol for it on the New York Stock Exchange will be “TKO.”
What the future holds for Wrestling and MMA?
In July 2022, Vince McMahon stepped down as chairman of the WWE after the Wall Street Journal reported that he had given four women hush money totaling $12 million.
In order to prevent public disclosures of alleged sexual misconduct and infidelity, nondisclosure agreements were obtained through payments. Through his attorney, Jerry McDevitt, McMahon refuted the accusations, claiming that the settlement was made only to avoid the expense of a court case.
After leaving WWE for six months, McMahon came back, reorganizing the board of directors and allegedly threatening to obstruct any sale or agreement involving media rights unless he was directly involved as executive chairman.
Vince McMahon is the WWE’s executive chairman. If Rights Limited/Alamy Stock Image
McMahon will now serve as the new company’s executive chairman as a result of the WWE-UFC merger.
McMahon will now serve as the new company’s executive chairman as a result of the WWE-UFC merger. Nick Khan, the current CEO of WWE, will take over as president, while Dana White will continue to lead the UFC.
This, along with White’s most recent domestic violence issue (he was caught on camera slapping his wife prior to the debut of the contentious UFC spin-off, power slap league), gives Endeavor’s latest endeavor an executive who is already somewhat notorious. Later, White expressed regret for the incident.
Future of WWE Superstars?
The thing that everybody is now wondering, what will the future of WWE superstars be in this new era of combat sports. Well, this could offer both positive and negative sides.
WWE talent may benefit from more extensive media exposure thanks to Endeavour, a powerful talent agency. This would follow in the footsteps of Hollywood crossover stars like Dave Batista, John Cena, and Dwayne “The Rock” Johnson.
Existing WWE talent, meanwhile, may now receive less exposure as WWE attempts to capitalize on UFC star power, with high-profile UFC fighters like Connor McGregor already hinting at a move into professional wrestling.
Something as ordinary as a business merger has the potential to become just as dramatic as the action in the ring in the world of professional wrestling, where the storylines are frequently as fantastic as they are stunning.