Endeavor’s deal to merge WWE and UFC is complete. The McMahon family era is over.
The Capitol Wrestling Corporation ran its first show back in January 1953, and under the guidance of Vincent J. McMahon rose to become the WWWF. The company became the WWF in 1979 and was purchased by Vincent K. McMahon and Titan Sports in 1982.
From here the promotion rose to incredible heights as the most famous wrestling company on earth, becoming WWE in 2002.
The one constant through the boom periods, downturns, and company expansions was the McMahon family, but as of September 12th, 2023, that era is over.
Ahead of the opening of the New York Stock Exchange on September 12th, WWE announced via a press release on its corporate website that Endeavor’s takeover and the merger of WWE and UFC is now complete. TKO Group Holdings Inc is born.
“Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (previously NYSE: WWE) (“WWE”) today announced the close of their previously announced agreement and the launch of TKO Group Holdings, Inc. (NYSE: TKO) (“TKO”).
TKO brings together UFC, the world’s premier mixed martial arts organization, and WWE, an integrated media organization and the recognized global leader in sports entertainment, to create a new premium sports and entertainment company serving more than one billion young and diverse fans1, reaching viewers in 180 countries, and producing more than 350 annual live events.
Through this combination, TKO will leverage Endeavor’s expertise in areas including domestic and international media rights, ticket sales and yield optimization, event operations, global partnerships, licensing, and premium hospitality to drive revenue growth.”
CEO of Endeavor and TKO Ari Emanuel said that the deal represented a new chapter.
“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment. Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”
Vince McMahon who will serve as Executive Chairman of TKO, said the deal was the result of a lengthy partnership between the two companies.
“This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO. Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”
You can find a summary of TKO’s structure below.
Leadership Team
As previously announced, TKO is led by:
- Ariel Emanuel, Chief Executive Officer, who continues as Chief Executive Officer of Endeavor;
- Mark Shapiro, President and Chief Operating Officer, who continues as President and Chief Operating Officer of Endeavor;
- Andrew Schleimer, Chief Financial Officer; and
- Seth Krauss, Chief Legal Officer, who continues as Chief Legal Officer of Endeavor.
Dana White is now Chief Executive Officer of UFC and Lawrence Epstein remains Senior Executive Vice President and Chief Operating Officer of UFC. Nick Khan continues at WWE in the role of President.
The Board of Directors of TKO is led by Vince McMahon as Executive Chairman of the Board and consists of 11 members, including Mr. Emanuel, Mr. Shapiro, and Mr. Khan, in addition to the following directors:
- Peter C.B. Bynoe, Senior Advisor at DLA Piper LLP;
- Egon P. Durban, Co-Chief Executive Officer of Silver Lake;
- Steven R. Koonin, Chief Executive Officer of the Atlanta Hawks, LLC;
- Jonathan A. Kraft, President of the Kraft Group LLC;
- Sonya E. Medina, President and Chief Executive Officer of Reach Resilience;
- Nancy R. Tellem, Executive Chairperson and Chief Media Officer of Eko; and
- Carrie Wheeler, Chief Executive Officer and a board member of Opendoor Technologies Inc.
Advisors
Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC served as financial advisors to Endeavor, Latham & Watkins LLP served as legal advisor to Endeavor, and Alvarez & Marsal served as integration advisor to Endeavor. The Raine Group served as lead financial advisor to WWE. J.P. Morgan and Moelis & Company LLC served as financial advisors to WWE. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to WWE, and Kirkland & Ellis LLP served as legal advisor to WWE’s controlling stockholder, McMahon.
Recently it was revealed that Vince McMahon tried to screw over the UFC.
When Did WWE Begin Deal With Endeavor?
The deal between WWE and Endeavor was first revealed after WrestleMania 39 when it was confirmed a purchase agreement had been agreed. The new company is said to be worth around $21 billion, with WWE valued at around $9 billion.
Recently it was reported that WWE management is not ruling out the idea of bringing back CM Punk.
With shareholders furious at the nature of the deal and believing that there were better offers on the table, WWE faces legal action over what has been described as a “sham sale.”